218,879 Shares in L3Harris Technologies Inc $LHX Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 218,879 shares of the company’s stock, valued at approximately $66,848,000.

A number of other hedge funds have also recently modified their holdings of LHX. Kiker Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares during the period. Harbor Asset Planning Inc. purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $32,000. Independence Bank of Kentucky lifted its holdings in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $341.82 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a 50 day moving average price of $297.47 and a 200-day moving average price of $286.47. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $361.59. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 2.15 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective on the stock. Finally, BNP Paribas raised L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.73.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.