CX Institutional Purchases 5,199 Shares of L3Harris Technologies Inc $LHX

CX Institutional grew its position in L3Harris Technologies Inc (NYSE:LHX) by 671.7% during the third quarter, HoldingsChannel.com reports. The fund owned 5,973 shares of the company’s stock after acquiring an additional 5,199 shares during the quarter. CX Institutional’s holdings in L3Harris Technologies were worth $1,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of 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 in the last quarter. AGF Management Ltd. purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth $324,940,000. Boston Partners grew its stake in shares of L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after buying an additional 838,546 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after buying an additional 766,075 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of L3Harris Technologies by 155.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after buying an additional 376,499 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $325.84 on Friday. The stock has a 50 day moving average price of $289.35 and a 200 day moving average price of $280.94. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $336.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a market capitalization of $60.95 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.94 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last released 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 11.08% and a net margin of 8.09%.The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $3.34 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 17th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 51.56%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BNP Paribas upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. UBS Group lifted their target price on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Cowen restated a “buy” rating on shares of L3Harris Technologies in a report on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Citigroup began coverage on shares of L3Harris Technologies in a research note on Thursday, December 11th. They issued a “buy” rating and a $331.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.29.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

About L3Harris Technologies

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.