AG2R LA Mondiale Gestion D Actifs Buys Shares of 7,613 L3Harris Technologies Inc $LHX

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 7,613 shares of L3Harris Technologies Inc, representing a value of approximately $1.59 million, in the first quarter of this year.
• L3Harris Technologies reported earnings of $2.78 per share, exceeding analyst estimates, with quarterly revenue of $5.43 billion, marking a 2.4% increase year-over-year.
• The company declared a quarterly dividend of $1.20 per share, with a payout ratio of 53.63%, translating to an annualized yield of 1.7% for shareholders of record.

AG2R LA Mondiale Gestion D Actifs bought a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,613 shares of the company's stock, valued at approximately $1,593,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies in the first quarter worth $26,000. Beacon Capital Management LLC grew its position in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies in the fourth quarter worth $37,000. Finally, Cornerstone Planning Group LLC grew its position in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after acquiring an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated Friday, September 12th. The shares were 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 directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 195,138 shares of company stock valued at $53,571,774 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LHX shares. UBS Group upped their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Robert W. Baird upped their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Trading Up 0.9%

LHX stock traded up $2.56 during trading on Monday, reaching $281.76. The company had a trading volume of 783,399 shares, compared to its average volume of 971,640. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $282.22. The company has a market cap of $52.72 billion, a P/E ratio of 31.48, a PEG ratio of 2.04 and a beta of 0.76. The business has a 50 day moving average of $271.59 and a 200 day moving average of $242.44. 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 (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the firm earned $3.24 earnings per share. L3Harris Technologies's revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

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.