BOK Financial Private Wealth Inc. Decreases Position in L3Harris Technologies Inc $LHX

BOK Financial Private Wealth Inc. cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 8.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,235 shares of the company’s stock after selling 407 shares during the period. BOK Financial Private Wealth Inc.’s holdings in L3Harris Technologies were worth $1,062,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LHX. Nuveen LLC purchased a new stake in L3Harris Technologies during the 1st quarter valued at about $299,157,000. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. AGF Management Ltd. bought a new stake in L3Harris Technologies in the second quarter valued at approximately $324,940,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after purchasing an additional 709,948 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after purchasing an additional 557,610 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $290.67 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The firm has a 50-day moving average of $288.06 and a 200 day moving average of $264.45. The company has a market cap of $54.37 billion, a P/E ratio of 32.48, a PEG ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm 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 earned $3.34 EPS. The business’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. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

LHX has been the subject of several analyst reports. Truist Financial increased their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada upped their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Barclays raised their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies 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 transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Profile

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.