Amundi Has $21.95 Million Stock Position in L3Harris Technologies Inc $LHX

Amundi boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 33.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,530 shares of the company's stock after purchasing an additional 26,453 shares during the quarter. Amundi owned approximately 0.06% of L3Harris Technologies worth $21,945,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in L3Harris Technologies during the 1st quarter worth $26,000. Beacon Capital Management LLC boosted its position in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Park Square Financial Group LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $37,000. Cornerstone Planning Group LLC boosted its position in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after acquiring an additional 139 shares during the period. Finally, WPG Advisers LLC acquired a new position in L3Harris Technologies during the 1st quarter worth $39,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LHX. Robert W. Baird boosted their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. UBS Group upped their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Citigroup upped their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. Susquehanna upped their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, Truist Financial upped their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 195,138 shares of company stock worth $53,571,774 over the last quarter. 0.72% of the stock is owned by insiders.

L3Harris Technologies Trading Down 0.5%

Shares of L3Harris Technologies stock traded down $1.41 on Friday, reaching $279.22. 800,756 shares of the company were exchanged, compared to its average volume of 990,507. The stock has a fifty day moving average price of $271.08 and a 200-day moving average price of $241.66. The firm has a market capitalization of $52.24 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $281.67.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its 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. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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