Quantbot Technologies LP Lowers Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Quantbot Technologies LP significantly reduced its holdings in L3Harris Technologies by 88.5%, leaving it with only 4,595 shares valued at approximately $962,000.
• Multiple hedge funds increased their stakes in L3Harris Technologies, with Wellington Management Group boosting its holdings by 12.2% to over 5.1 million shares.
• Insider selling activity has been notable, with CEO Christopher E. Kubasik selling 40,138 shares valued at over $10.8 million, representing a significant decrease in their ownership of the stock.

Quantbot Technologies LP lessened its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 88.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,595 shares of the company's stock after selling 35,478 shares during the quarter. Quantbot Technologies LP's holdings in L3Harris Technologies were worth $962,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its holdings in L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after buying an additional 216 shares during the last quarter. BankPlus Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 6.0% during the first quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock worth $432,000 after purchasing an additional 117 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of L3Harris Technologies by 21.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after purchasing an additional 1,236 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares during the last quarter. Finally, Capital Analysts LLC grew its holdings in shares of L3Harris Technologies by 4.2% during the fourth quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock worth $9,360,000 after purchasing an additional 1,808 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $0.43 during midday trading on Friday, reaching $277.47. 1,266,163 shares of the company traded hands, compared to its average volume of 1,119,790. The firm's 50 day simple moving average is $266.31 and its two-hundred day simple moving average is $236.12. 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 current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $51.91 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77.

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, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $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. On average, equities research analysts expect 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 will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given 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 is Friday, September 5th. L3Harris Technologies's payout ratio is currently 53.63%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 145,199 shares of company stock worth $38,555,071. Insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Susquehanna raised their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. UBS Group raised their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Citigroup raised their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Barclays raised their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

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.