Lbp Am Sa Purchases New Shares in L3Harris Technologies Inc $LHX

Key Points

• Lbp Am Sa purchased a new stake in L3Harris Technologies Inc by acquiring 32,897 shares valued at approximately $8.25 million in the second quarter.
• L3Harris Technologies reported a quarterly earnings per share of $2.78, exceeding expectations, with revenue of $5.43 billion, marking a 2.4% increase from the previous year.
• The company recently announced a quarterly dividend of $1.20, representing an annualized dividend yield of 1.6% with a payout ratio of 53.63%.

Lbp Am Sa purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 32,897 shares of the company's stock, valued at approximately $8,252,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies in the 1st quarter worth about $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 acquiring an additional 58 shares in the last quarter. Independence Bank of Kentucky lifted its stake in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after acquiring an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in 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 acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Down 1.5%

LHX opened at $300.80 on Thursday. The business has a 50-day moving average of $278.03 and a 200-day moving average of $248.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $305.94. The company has a market capitalization of $56.28 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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 return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the business earned $3.24 EPS. The firm's 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 research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. UBS Group increased their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Robert W. Baird raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.

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