Lbp Am Sa Has $17.44 Million Position in L3Harris Technologies Inc $LHX

Lbp Am Sa raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 73.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,104 shares of the company’s stock after acquiring an additional 24,207 shares during the quarter. Lbp Am Sa’s holdings in L3Harris Technologies were worth $17,440,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LHX. Whittier Trust Co. of Nevada Inc. increased its stake in shares of L3Harris Technologies by 3.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,373 shares of the company’s stock worth $706,000 after purchasing an additional 69 shares during the last quarter. Whittier Trust Co. increased its position in L3Harris Technologies by 5.8% during the third quarter. Whittier Trust Co. now owns 918 shares of the company’s stock worth $273,000 after buying an additional 50 shares during the last quarter. CIBC Asset Management Inc raised its holdings in L3Harris Technologies by 2.7% during the third quarter. CIBC Asset Management Inc now owns 63,652 shares of the company’s stock valued at $19,440,000 after buying an additional 1,664 shares in the last quarter. Capital Investment Counsel Inc raised its holdings in L3Harris Technologies by 58.3% during the third quarter. Capital Investment Counsel Inc now owns 2,145 shares of the company’s stock valued at $655,000 after buying an additional 790 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 10.8% in the third quarter. Sagespring Wealth Partners LLC now owns 3,643 shares of the company’s stock worth $1,113,000 after buying an additional 356 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the 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 sale, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $354.66 on Monday. The firm has a market capitalization of $66.34 billion, a P/E ratio of 38.09, a P/E/G ratio of 2.22 and a beta of 0.66. The stock has a fifty day moving average price of $301.06 and a two-hundred day moving average price of $288.48. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $361.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95.

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

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is presently 51.56%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of analyst reports. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. UBS Group increased their price target on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Citigroup upped their price objective on shares of L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, January 12th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $315.73.

L3Harris Technologies 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.