Fiduciary Family Office LLC Trims Stake in L3Harris Technologies Inc $LHX

Key Points

• Fiduciary Family Office LLC reduced its stake in L3Harris Technologies Inc by 44.3% during the second quarter, now holding 2,283 shares valued at $573,000.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, with a dividend yield of 1.7%, set to be paid on December 5th.
• Institutional investors currently own 84.76% of L3Harris Technologies' stock, with significant recent trading activity among major stakeholders including Nuveen LLC and Caisse DE Depot ET Placement DU Quebec.

Fiduciary Family Office LLC lowered its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 44.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,283 shares of the company's stock after selling 1,818 shares during the quarter. Fiduciary Family Office LLC's holdings in L3Harris Technologies were worth $573,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at about $299,157,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after purchasing an additional 709,948 shares during the last quarter. Wellington Management Group LLP raised its stake in L3Harris Technologies by 12.2% in the first 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Appaloosa LP purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $62,793,000. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total value 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. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last ninety days. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $290.88 on Tuesday. The company has a market capitalization of $54.42 billion, a P/E ratio of 32.50, a PEG ratio of 2.07 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a 50 day moving average price of $283.63 and a two-hundred day moving average price of $256.66.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (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 firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter last year, the business earned $3.24 earnings per share. The business'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. Analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company 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 of this dividend is Monday, November 17th. L3Harris Technologies's dividend payout ratio is 53.63%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LHX. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Barclays upped 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. Weiss Ratings restated a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $287.63.

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.

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