Qtron Investments LLC Takes Position in L3Harris Technologies Inc $LHX

Key Points

• Qtron Investments LLC has made a significant investment of $396,000 into L3Harris Technologies, acquiring 1,890 shares during the first quarter of the year.
• Several other institutional investors, including Nuveen LLC and JPMorgan Chase & Co., have also significantly increased their stakes in L3Harris Technologies, indicating increasing confidence in the company.
• L3Harris Technologies recently announced a quarterly dividend of $1.20, representing an annualized dividend yield of 1.8%, with a dividend payout ratio of 53.63%.

Qtron Investments LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,890 shares of the company's stock, valued at approximately $396,000.

A number of other large investors have also made changes to their positions in LHX. Nuveen LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $299,157,000. GAMMA Investing LLC lifted its position in shares of L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after buying an additional 510,438 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after buying an additional 311,886 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of L3Harris Technologies by 60.8% during the 1st quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company's stock valued at $160,644,000 after buying an additional 290,269 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after buying an additional 289,514 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Barclays lifted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird lifted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted 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. Finally, Susquehanna lifted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $279.47.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider directly owned 25,325 shares of the company's stock, valued at $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 40,138 shares of the company'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 value of $10,817,993.76. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $39,236,182.56. This trade represents a 21.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,199 shares of company stock worth $39,045,071 over the last ninety days. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

NYSE LHX traded down $0.7820 during trading hours on Friday, reaching $275.3280. The company's stock had a trading volume of 754,919 shares, compared to its average volume of 1,213,427. The firm's 50-day moving average price is $263.52 and its 200-day moving average price is $233.71. 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 Inc has a 1 year low of $193.09 and a 1 year high of $280.52. The company has a market capitalization of $51.51 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.02 and a beta of 0.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping 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 company had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the previous year, the firm 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. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is 53.63%.

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.