L3Harris Technologies Inc $LHX Shares Purchased by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in L3Harris Technologies Inc by 6.5%, now holding 16,942 shares valued at approximately $4.25 million.
• CEO Christopher E. Kubasik sold 83,000 shares of L3Harris in September, representing a 36.31% decrease in his ownership, while insiders have sold a total of 195,138 shares worth about $53.57 million in the past 90 days.
• The company reported a quarterly earnings per share (EPS) of $2.78, exceeding expectations, and set FY 2025 EPS guidance between 10.400 and 10.600.

IFM Investors Pty Ltd raised its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,942 shares of the company's stock after buying an additional 1,037 shares during the quarter. IFM Investors Pty Ltd's holdings in L3Harris Technologies were worth $4,250,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies in the first quarter worth $26,000. Beacon Capital Management LLC raised its position in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $37,000. Finally, Cornerstone Planning Group LLC lifted its position in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Up 0.1%

NYSE LHX traded up $0.40 on Monday, hitting $284.34. 785,435 shares of the stock were exchanged, compared to its average volume of 981,935. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $286.81. The company has a 50-day moving average price of $273.51 and a 200-day moving average price of $244.49. The company has a market cap of $53.20 billion, a PE ratio of 31.77, a PEG ratio of 2.08 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company 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 earned $3.24 earnings per share. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date 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 53.63%.

Wall Street Analyst Weigh In

LHX has been the topic of several recent analyst reports. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Susquehanna boosted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. UBS Group lifted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada raised their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $279.47.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 over the last quarter. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies 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.