Great Lakes Advisors LLC Sells 14,380 Shares of L3Harris Technologies Inc $LHX

Key Points

• Great Lakes Advisors LLC significantly reduced its holdings in L3Harris Technologies Inc by 55.3%, selling 14,380 shares and bringing its total to 11,644 shares, valued at approximately $2.44 million.
• L3Harris Technologies recently reported earnings per share of $2.78 for the last quarter, exceeding estimates of $2.48, with revenue of $5.43 billion compared to the expected $5.31 billion.
• The company announced a quarterly dividend of $1.20 per share, reflecting an annualized payout of $4.80 and a dividend yield of 1.7%, payable to shareholders on September 22nd.

Great Lakes Advisors LLC lowered its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,644 shares of the company's stock after selling 14,380 shares during the quarter. Great Lakes Advisors LLC's holdings in L3Harris Technologies were worth $2,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of L3Harris Technologies by 946.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after buying an additional 709,948 shares during the last quarter. Wellington Management Group LLP grew its position in L3Harris Technologies by 12.2% during 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 buying an additional 557,610 shares during the period. GAMMA Investing LLC increased its holdings in L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after buying an additional 510,438 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings 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 worth $486,898,000 after buying an additional 311,886 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 1.7%

LHX opened at $275.39 on Thursday. The firm has a market capitalization of $51.53 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The company has a fifty day moving average price of $270.16 and a 200-day moving average price of $240.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

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, topping analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.24 earnings per share. 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 Announces Dividend

The firm 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 72,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird upped their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Barclays increased their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $279.47.

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.

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