Credit Agricole S A Acquires 7,756 Shares of L3Harris Technologies Inc $LHX

Key Points

• Credit Agricole S A has increased its holdings in L3Harris Technologies Inc by 16.8% to 53,886 shares, valued at approximately $11.3 million.
• Insider Edward J. Zoiss sold 2,000 shares at an average price of $245.00, resulting in a notable decrease of 7.32% in his position.
• L3Harris Technologies recently announced a quarterly dividend of $1.20 per share, representing an annualized dividend yield of 1.7%.

Credit Agricole S A increased its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,886 shares of the company's stock after buying an additional 7,756 shares during the period. Credit Agricole S A's holdings in L3Harris Technologies were worth $11,279,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings 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 worth $1,074,208,000 after purchasing an additional 557,610 shares during the period. Cornerstone Select Advisors LLC grew its holdings in L3Harris Technologies by 14.9% in the first quarter. Cornerstone Select Advisors LLC now owns 5,980 shares of the company's stock worth $1,252,000 after purchasing an additional 775 shares during the period. Korea Investment CORP grew its holdings in L3Harris Technologies by 10.0% in the first quarter. Korea Investment CORP now owns 134,188 shares of the company's stock worth $28,087,000 after purchasing an additional 12,173 shares during the period. Qtron Investments LLC purchased a new stake in L3Harris Technologies in the first quarter worth about $396,000. Finally, Aptus Capital Advisors LLC grew its holdings in L3Harris Technologies by 14.3% in the first quarter. Aptus Capital Advisors LLC now owns 14,312 shares of the company's stock worth $2,996,000 after purchasing an additional 1,794 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the sale, the chief executive officer 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,199 shares of company stock worth $39,045,071 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Up 0.2%

Shares of NYSE:LHX traded up $0.5140 during trading on Monday, reaching $276.2840. 431,313 shares of the stock traded hands, compared to its average volume of 1,420,496. The stock has a 50-day moving average of $263.52 and a two-hundred day moving average of $234.08. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.52. 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 market cap of $51.69 billion, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77.

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 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 posted $3.24 earnings per share. The firm's quarterly 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. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday. Susquehanna upped their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Robert W. Baird upped their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Finally, Citigroup upped their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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.