L3Harris Technologies Inc $LHX Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC reduced its position in L3Harris Technologies Inc by 75.9%, leaving them with 2,607 shares valued at $546,000 as of the latest SEC filing.
• Several hedge funds have increased their stakes in L3Harris Technologies during the same quarter, with Price T. Rowe Associates boosting their holdings by 1.9% and Wellington Management increasing theirs by 12.2%.
• L3Harris Technologies reported second-quarter earnings of $2.78 per share, exceeding estimates, and recently announced a quarterly dividend of $1.20 per share, representing an annualized yield of 1.7%.

Jump Financial LLC decreased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 75.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,607 shares of the company's stock after selling 8,220 shares during the period. Jump Financial LLC's holdings in L3Harris Technologies were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in L3Harris Technologies by 4.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,370 shares of the company's stock worth $285,000 after purchasing an additional 53 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of L3Harris Technologies by 1,228.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 152,364 shares of the company's stock worth $31,892,000 after acquiring an additional 140,898 shares during the period. Kestra Advisory Services LLC boosted its stake in shares of L3Harris Technologies by 2.6% during the first quarter. Kestra Advisory Services LLC now owns 10,937 shares of the company's stock valued at $2,289,000 after purchasing an additional 280 shares in the last quarter. Allstate Corp boosted its stake in shares of L3Harris Technologies by 85.5% during the first quarter. Allstate Corp now owns 10,313 shares of the company's stock valued at $2,159,000 after purchasing an additional 4,752 shares in the last quarter. Finally, RPG Investment Advisory LLC boosted its stake in shares of L3Harris Technologies by 217.0% during the first quarter. RPG Investment Advisory LLC now owns 111,464 shares of the company's stock valued at $23,331,000 after purchasing an additional 76,300 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Barclays boosted their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. 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. Finally, Royal Bank Of Canada raised their price objective 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. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,138 shares of the business's stock in a transaction dated Monday, August 11th. The shares were 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 owned 145,578 shares of the company's stock, valued at $39,236,182.56. The trade was a 21.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 145,199 shares of company stock worth $38,555,071 over the last three months. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

LHX traded down $1.66 on Friday, reaching $270.13. The stock had a trading volume of 197,618 shares, compared to its average volume of 1,403,462. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The business's 50-day moving average price is $268.42 and its two-hundred day moving average price is $238.21. The company has a market cap of $50.54 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 2.00 and a beta of 0.76.

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, beating 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 during the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter in the previous 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 forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies's payout ratio is currently 53.63%.

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.