L3Harris Technologies Inc $LHX Shares Purchased by Boston Partners

Boston Partners raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 71.8% during the second quarter, Holdings Channel reports. The firm owned 1,999,316 shares of the company’s stock after purchasing an additional 835,651 shares during the period. Boston Partners’ holdings in L3Harris Technologies were worth $503,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. Cyndeo Wealth Partners LLC boosted its holdings in L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after acquiring an additional 37 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after purchasing an additional 39 shares during the period. Independence Bank of Kentucky increased its position in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares in the last quarter. DB Fitzpatrick & Co Inc lifted its position in L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after buying an additional 42 shares in the last quarter. Finally, Riverbend Wealth Management LLC grew its stake in L3Harris Technologies by 4.3% during the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after buying an additional 42 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LHX. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Robert W. Baird increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Morgan Stanley boosted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Barclays boosted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.63.

L3Harris Technologies Stock Up 2.2%

LHX stock opened at $296.92 on Tuesday. The firm has a market cap of $55.54 billion, a PE ratio of 33.18, a P/E/G ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. 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 firm has a 50 day simple moving average of $288.45 and a 200 day simple moving average of $265.02.

L3Harris Technologies (NYSE:LHX) last posted 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. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $3.34 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. 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 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced 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 of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is 51.56%.

L3Harris Technologies Company 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.