L3Harris Technologies Inc $LHX Holdings Boosted by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its holdings in L3Harris Technologies by 946.6% in Q1, resulting in ownership of 784,948 shares valued at approximately $164.3 million.
• L3Harris reported a quarterly earnings per share (EPS) of $2.78, surpassing analysts' expectations by $0.30, with revenues reaching $5.43 billion.
• The company declared a quarterly dividend of $1.20, with an annualized payout reflecting a yield of 1.7%.

Caisse DE Depot ET Placement DU Quebec raised its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 946.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 784,948 shares of the company's stock after acquiring an additional 709,948 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.42% of L3Harris Technologies worth $164,297,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LHX. Nuveen LLC acquired a new position in L3Harris Technologies in the 1st quarter valued at $299,157,000. Wellington Management Group LLP boosted its holdings in shares of L3Harris Technologies by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock valued at $1,074,208,000 after purchasing an additional 557,610 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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, JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 60.8% in the 1st quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company's stock worth $160,644,000 after buying an additional 290,269 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.1%

Shares of L3Harris Technologies stock traded up $0.25 during trading hours on Thursday, hitting $277.01. 759,346 shares of the company's stock traded hands, compared to its average volume of 1,147,235. The stock has a 50 day simple moving average of $265.19 and a 200-day simple moving average of $235.16. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $51.83 billion, a PE ratio of 23.06, a PEG ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter last year, the company posted $3.24 earnings per share. The company's quarterly revenue 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. Equities research analysts anticipate 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. 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 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $39,472,018.92. This trade represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 145,199 shares of company stock worth $38,555,071 over the last quarter. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LHX. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Barclays increased their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Susquehanna increased their price target 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 increased their price target on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

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.