Robeco Institutional Asset Management B.V. Has $20.26 Million Position in L3Harris Technologies Inc $LHX

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in L3Harris Technologies by 30.8%, holding 80,767 shares worth approximately $20.26 million after selling 35,999 shares in the second quarter.
• CEO Christopher E. Kubasik sold 83,000 shares of L3Harris for over $23 million, which represents a 36.31% decrease in his position.
• L3Harris Technologies reported $2.78 EPS for the last quarter, beating estimates, and has set FY 2025 guidance at 10.400-10.600 EPS, with analysts providing a consensus rating of "Moderate Buy."

Robeco Institutional Asset Management B.V. trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 30.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,767 shares of the company's stock after selling 35,999 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in L3Harris Technologies were worth $20,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Woodward Diversified Capital LLC bought a new stake in shares of L3Harris Technologies during the second quarter worth $346,000. Vigilare Wealth Management acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $563,000. PFG Investments LLC grew its position in L3Harris Technologies by 24.6% during the 2nd quarter. PFG Investments LLC now owns 1,664 shares of the company's stock worth $417,000 after acquiring an additional 328 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new position in L3Harris Technologies in the 2nd quarter worth about $232,000. Finally, LBP AM SA acquired a new stake in shares of L3Harris Technologies during the second quarter valued at about $8,252,000. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $297.52 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm's fifty day simple moving average is $279.07 and its two-hundred day simple moving average is $249.82. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $305.94. The stock has a market capitalization of $55.67 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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 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 the consensus estimate of $5.31 billion. During the same period in the previous 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. As a group, analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent research reports. Royal Bank Of Canada upped their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Truist Financial upped their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Weiss Ratings reiterated a "buy (b-)" rating on shares of L3Harris Technologies in a report on Saturday, September 27th. UBS Group increased their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Citigroup lifted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.