L3Harris Technologies Inc $LHX Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its stake in L3Harris Technologies by 4.0%, selling 2,583 shares, which leaves them with 62,056 shares valued at approximately $12.99 million.
• L3Harris Technologies reported a $2.78 EPS for the last quarter, surpassing analysts' expectations, with revenues of $5.43 billion, a 2.4% increase year-over-year.
• The company announced a quarterly dividend of $1.20 per share, with an annualized payout of $4.80, reflecting a dividend yield of 1.7%.

Gamco Investors INC. ET AL decreased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,056 shares of the company's stock after selling 2,583 shares during the quarter. Gamco Investors INC. ET AL's holdings in L3Harris Technologies were worth $12,989,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LHX. Clearstead Trust LLC 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% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $37,000. Cornerstone Planning Group LLC increased its position in shares of 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 buying an additional 139 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of L3Harris Technologies in the first quarter valued at $42,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $0.43 during midday trading on Monday, reaching $277.47. 1,266,163 shares of the company were exchanged, compared to its average volume of 1,112,421. The company has a market capitalization of $51.91 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.03 and a beta of 0.76. The firm's 50-day simple moving average is $266.31 and its 200-day simple moving average is $236.62. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $269.52, for a total value of $10,817,993.76. Following the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $39,236,182.56. This trade represents a 21.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 145,199 shares of company stock valued at $38,555,071. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LHX. Susquehanna raised their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price target on 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 raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Truist Financial raised their price target on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, UBS Group raised their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research 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. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

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.