MetLife Investment Management LLC Sells 1,266 Shares of L3Harris Technologies Inc $LHX

Key Points

• MetLife Investment Management LLC reduced its holdings in L3Harris Technologies by 2.5%, owning 48,928 shares valued at approximately $10.24 million post-sale.
• L3Harris Technologies recently reported $2.78 earnings per share (EPS), exceeding the consensus estimate of $2.48, with revenues of $5.43 billion for the quarter.
• The company announced a quarterly dividend of $1.20 per share, with a record date of September 5, representing an annualized yield of 1.7%.

MetLife Investment Management LLC cut its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,928 shares of the company's stock after selling 1,266 shares during the quarter. MetLife Investment Management LLC's holdings in L3Harris Technologies were worth $10,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in L3Harris Technologies in the 1st quarter worth approximately $26,000. Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $37,000. Cornerstone Planning Group LLC increased its holdings in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after buying an additional 139 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth $42,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LHX has been the topic of a number of research analyst reports. Barclays increased their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Susquehanna increased their price target 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. Truist Financial increased their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Citigroup increased their price target 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. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

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 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 of the company's stock, valued at $39,236,182.56. This trade represents a 21.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 145,199 shares of company stock valued at $38,555,071. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Trading Up 0.2%

Shares of LHX stock traded up $0.43 on Monday, hitting $277.47. 1,266,163 shares of the company's stock traded hands, compared to its average volume of 1,112,421. 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 Inc has a one year low of $193.09 and a one year high of $280.52. The company's fifty day simple moving average is $266.84 and its 200 day simple moving average is $237.18. The stock 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating 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 analyst estimates of $5.31 billion. During the same quarter last year, the firm earned $3.24 EPS. 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 forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued 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 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.