L3Harris Technologies Inc $LHX Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 52.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,117,030 shares of the company’s stock after buying an additional 1,413,833 shares during the quarter. Bank of New York Mellon Corp’s holdings in L3Harris Technologies were worth $1,032,716,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in L3Harris Technologies by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after purchasing an additional 181,550 shares in the last quarter. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after purchasing an additional 557,610 shares in the last quarter. Invesco Ltd. grew its holdings in L3Harris Technologies by 5.0% during the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after purchasing an additional 112,271 shares in the last quarter. Nuveen LLC acquired a new stake in L3Harris Technologies during the 1st quarter valued at $299,157,000. Finally, Envestnet Asset Management Inc. grew its holdings in L3Harris Technologies by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,374,242 shares of the company’s stock valued at $344,715,000 after purchasing an additional 112,002 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LHX shares. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. UBS Group increased their price objective on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Citigroup increased their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $290.31.

L3Harris Technologies Trading Down 2.3%

Shares of NYSE:LHX opened at $289.07 on Monday. The company has a market cap of $54.08 billion, a PE ratio of 32.30, a P/E/G ratio of 2.09 and a beta of 0.76. The company’s 50-day moving average price is $286.92 and its 200 day moving average price is $261.91. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s quarterly revenue was up 6.9% compared to the same quarter last year. 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. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

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.