27,036 Shares in L3Harris Technologies Inc $LHX Purchased by L & S Advisors Inc

L & S Advisors Inc acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 27,036 shares of the company’s stock, valued at approximately $6,782,000.

Other large investors also recently made changes to their positions in the company. Nuveen LLC purchased a new position in L3Harris Technologies during the first quarter valued at approximately $299,157,000. Bank of New York Mellon Corp increased its position in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares during the last quarter. AGF Management Ltd. bought a new position in L3Harris Technologies during the second quarter valued at about $324,940,000. Boston Partners boosted its stake in shares of L3Harris Technologies by 71.8% during the 2nd quarter. Boston Partners now owns 1,999,316 shares of the company’s stock worth $503,434,000 after acquiring an additional 835,651 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of L3Harris Technologies by 946.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after acquiring an additional 709,948 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. UBS Group upped their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $295.63.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $288.51 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $53.97 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. The firm has a fifty day moving average price of $289.84 and a two-hundred day moving average price of $266.02. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business earned $3.34 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is currently 51.56%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.