First Financial Bankshares Inc Has $33.83 Million Holdings in L3Harris Technologies Inc $LHX

Key Points

• First Financial Bankshares Inc significantly increased its stake in L3Harris Technologies Inc by 16,324.2%, acquiring 160,630 shares, bringing its total holdings to 161,614 shares valued at approximately $33.8 million.
• Analysts have boosted their price targets for L3Harris Technologies, with Barclays setting a new target of $305, while Citigroup increased theirs to $323, reflecting a strong outlook for the stock.
• L3Harris Technologies reported earnings of $2.78 per share, exceeding expectations, with an announced quarterly dividend of $1.20 per share, indicating a solid financial performance.

First Financial Bankshares Inc raised its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 16,324.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,614 shares of the company's stock after purchasing an additional 160,630 shares during the quarter. First Financial Bankshares Inc owned about 0.09% of L3Harris Technologies worth $33,827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of L3Harris Technologies by 371.1% during the 4th quarter. Aptus Capital Advisors LLC now owns 12,518 shares of the company's stock worth $2,632,000 after acquiring an additional 9,861 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of L3Harris Technologies by 61.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 241,103 shares of the company's stock worth $50,699,000 after acquiring an additional 91,481 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $53,011,000. Finally, BIP Wealth LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $235,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 0.0%

Shares of NYSE:LHX traded down $0.09 during midday trading on Thursday, hitting $273.02. 1,083,634 shares of the stock were exchanged, compared to its average volume of 1,410,967. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.52. The business's fifty day simple moving average is $267.90 and its two-hundred day simple moving average is $237.69. The company has a market capitalization of $51.08 billion, a PE ratio of 30.51, a P/E/G ratio of 2.03 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company earned $3.24 earnings per share. L3Harris Technologies'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. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,236,182.56. This trade represents a 21.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 145,199 shares of company stock worth $38,555,071 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Susquehanna raised their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. UBS Group raised their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird raised their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus 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.