OLD National Bancorp IN Increases Holdings in L3Harris Technologies Inc $LHX

OLD National Bancorp IN increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 64.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,663 shares of the company's stock after buying an additional 1,048 shares during the quarter. OLD National Bancorp IN's holdings in L3Harris Technologies were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares during the last quarter. Wedmont Private Capital lifted its stake in L3Harris Technologies by 9.8% in the first quarter. Wedmont Private Capital now owns 1,109 shares of the company's stock worth $246,000 after purchasing an additional 99 shares during the last quarter. Park Avenue Securities LLC boosted its position in L3Harris Technologies by 24.4% during the first quarter. Park Avenue Securities LLC now owns 6,919 shares of the company's stock valued at $1,448,000 after buying an additional 1,359 shares during the period. Capital Investment Advisors LLC grew its stake in shares of L3Harris Technologies by 18.4% during the first quarter. Capital Investment Advisors LLC now owns 7,352 shares of the company's stock valued at $1,539,000 after buying an additional 1,141 shares during the last quarter. Finally, Courier Capital LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at about $266,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LHX shares. Citigroup increased their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their price objective 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. Truist Financial raised their target price 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. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, Robert W. Baird increased their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $279.47.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the company'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 transaction of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $302.99 on Tuesday. The business has a 50 day moving average of $279.74 and a 200 day moving average of $250.77. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $305.94. The company has a market cap of $56.69 billion, a PE ratio of 33.85, a P/E/G ratio of 2.17 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm earned $3.24 EPS. The company'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. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.6%. 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.

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