Aberdeen Group plc Raises Stock Position in L3Harris Technologies Inc $LHX

Key Points

• Aberdeen Group plc increased its stake in L3Harris Technologies by 29.6% during the second quarter, holding 29,787 shares valued at approximately $7.47 million.
• Several institutional investors also raised their holdings, with Gold Investment Management Ltd. increasing its stake by 108.4%, now owning 1,738 shares valued at $437,000.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, to be paid on December 5th, representing an annual yield of 1.7%.

Aberdeen Group plc lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 29.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,787 shares of the company's stock after acquiring an additional 6,803 shares during the quarter. Aberdeen Group plc's holdings in L3Harris Technologies were worth $7,472,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Gold Investment Management Ltd. increased its holdings in L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company's stock valued at $437,000 after buying an additional 904 shares during the period. BankPlus Trust Department increased its holdings in L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company's stock valued at $1,468,000 after buying an additional 379 shares during the period. Janney Montgomery Scott LLC increased its holdings in L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company's stock valued at $48,508,000 after buying an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after buying an additional 216 shares during the period. Finally, US Bancorp DE increased its holdings in L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company's stock valued at $86,317,000 after buying an additional 5,526 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an "equal weight" rating in a report on Wednesday. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Weiss Ratings restated a "buy (b-)" rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Susquehanna raised their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Finally, Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $287.63.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last three months. Insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Down 1.9%

NYSE:LHX opened at $284.28 on Friday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The firm has a fifty day simple moving average of $282.94 and a 200-day simple moving average of $254.90. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $53.19 billion, a P/E ratio of 31.76, a PEG ratio of 2.12 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $3.24 earnings per share. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's payout ratio is presently 53.63%.

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.

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