L3Harris Technologies Inc $LHX Stock Holdings Lifted by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its holdings in L3Harris Technologies by 4.6% in the first quarter, owning approximately $20 million worth of the company's stock.
• Equities analysts have raised their target prices for L3Harris Technologies, with Citigroup increasing its target from $300 to $323 and Robert W. Baird raising it from $274 to $320, reflecting strong market confidence.
• CEO Christopher E. Kubasik sold 40,138 shares of the company's stock, marking a 21.61% decrease in his holdings, while insiders have sold a total of 145,199 shares valued at over $38 million in the last ninety days.

Gabelli Funds LLC increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 95,674 shares of the company's stock after purchasing an additional 4,250 shares during the period. Gabelli Funds LLC owned 0.05% of L3Harris Technologies worth $20,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company's stock worth $2,058,151,000 after acquiring an additional 181,550 shares during the period. Wellington Management Group LLP raised its position 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 valued at $1,074,208,000 after purchasing an additional 557,610 shares during the period. Invesco Ltd. increased its position in shares of L3Harris Technologies by 5.0% during the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company's stock worth $491,323,000 after acquiring an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after purchasing an additional 311,886 shares in the last quarter. Finally, Northern Trust Corp grew its stake in L3Harris Technologies by 7.7% in the fourth quarter. Northern Trust Corp now owns 1,631,041 shares of the company's stock worth $342,975,000 after purchasing an additional 116,266 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on LHX shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Truist Financial lifted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays lifted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" 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. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the business's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 145,199 shares of company stock worth $38,555,071 over the last quarter. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of LHX traded up $0.43 during mid-day trading on Friday, reaching $277.47. 1,266,163 shares of the company's stock traded hands, compared to its average volume of 1,119,790. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $280.52. The stock has a market capitalization of $51.91 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. The business's 50-day moving average price is $266.31 and its 200-day moving average price is $236.37. 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 (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 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 firm had revenue of $5.43 billion for 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 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. Equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company 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 dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies's payout ratio is presently 53.63%.

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.