Ethic Inc. Purchases 1,773 Shares of L3Harris Technologies Inc $LHX

Key Points

• Ethic Inc. increased its holdings in L3Harris Technologies by 17.2%, acquiring an additional 1,773 shares worth approximately $2.54 million during the first quarter.
• L3Harris Technologies experienced significant analyst upgrades, with price targets being raised by firms such as Truist Financial and Barclays, indicating a generally positive market outlook.
• Insider transactions included CEO Christopher E. Kubasik selling 72,000 shares valued at over $19 million, reflecting a notable decrease in his ownership stake.

Ethic Inc. raised its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 17.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,107 shares of the company's stock after buying an additional 1,773 shares during the quarter. Ethic Inc.'s holdings in L3Harris Technologies were worth $2,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Brighton Jones LLC grew its holdings in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after buying an additional 3,001 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $381,000. NewEdge Advisors LLC grew its holdings in shares of L3Harris Technologies by 0.8% during the 4th quarter. NewEdge Advisors LLC now owns 15,265 shares of the company's stock worth $3,210,000 after purchasing an additional 125 shares in the last quarter. Commerce Bank grew its holdings in shares of L3Harris Technologies by 8.4% during the 4th quarter. Commerce Bank now owns 20,820 shares of the company's stock worth $4,378,000 after purchasing an additional 1,607 shares in the last quarter. Finally, GeoWealth Management LLC grew its holdings in shares of L3Harris Technologies by 176.9% during the 4th quarter. GeoWealth Management LLC now owns 1,850 shares of the company's stock worth $389,000 after purchasing an additional 1,182 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LHX. Barclays lifted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Susquehanna lifted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Truist Financial lifted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $39,472,018.92. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,199 shares of company stock valued at $39,045,071. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX stock traded down $0.7820 during trading on Friday, hitting $275.3280. The company had a trading volume of 754,919 shares, compared to its average volume of 1,213,427. The company has a fifty day moving average price of $263.52 and a two-hundred day moving average price of $233.89. 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 $280.52. The company has a market cap of $51.51 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.02 and a beta of 0.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the company posted $3.24 EPS. 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. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies's 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.