Greenleaf Trust Decreases Stock Position in L3Harris Technologies Inc $LHX

Greenleaf Trust cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,109 shares of the company’s stock after selling 270 shares during the period. Greenleaf Trust’s holdings in L3Harris Technologies were worth $780,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Price T Rowe Associates Inc. MD lifted 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 worth $2,058,151,000 after buying an additional 181,550 shares during the last quarter. Wellington Management Group LLP lifted 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 worth $1,074,208,000 after buying an additional 557,610 shares during the last quarter. Invesco Ltd. lifted 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 worth $491,323,000 after buying an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after buying an additional 311,886 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in L3Harris Technologies during the 1st quarter worth about $299,157,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on LHX. Truist Financial lifted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Robert W. Baird lifted their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Barclays boosted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $279.47.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 1.5%

L3Harris Technologies stock opened at $295.95 on Friday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $305.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $55.37 billion, a P/E ratio of 33.07, a PEG ratio of 2.20 and a beta of 0.76. The stock has a 50-day simple moving average of $278.50 and a 200-day simple moving average of $248.98.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s payout ratio is 53.63%.

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.