RPG Investment Advisory LLC Has $23.33 Million Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• RPG Investment Advisory LLC increased its position in L3Harris Technologies by 217%, owning 111,464 shares after purchasing an additional 76,300 shares in the first quarter.
• L3Harris Technologies reported a net margin of 7.94% and earnings per share of $2.78 for the last quarter, exceeding estimates and indicating a 2.4% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $1.20 per share, representing a 1.7% dividend yield with a payout ratio of 53.63%.

RPG Investment Advisory LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 217.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,464 shares of the company's stock after buying an additional 76,300 shares during the period. L3Harris Technologies makes up about 1.7% of RPG Investment Advisory LLC's holdings, making the stock its 26th biggest holding. RPG Investment Advisory LLC owned 0.06% of L3Harris Technologies worth $23,331,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LHX. Price T Rowe Associates Inc. MD increased its position in shares of L3Harris Technologies by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company's stock worth $2,058,151,000 after acquiring an additional 181,550 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of L3Harris Technologies by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock valued at $1,074,208,000 after purchasing an additional 557,610 shares in the last quarter. Invesco Ltd. raised its stake in shares of L3Harris Technologies by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company's stock valued at $491,323,000 after purchasing an additional 112,271 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Northern Trust Corp grew its stake in L3Harris Technologies by 7.7% in the fourth quarter. Northern Trust Corp now owns 1,631,041 shares of the company's stock worth $342,975,000 after purchasing an additional 116,266 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on LHX shares. Barclays increased their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Susquehanna increased their price objective 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. Citigroup upped 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. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, UBS Group upped their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average price target of $279.47.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 72,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $39,472,018.92. This represents a 33.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 145,199 shares of company stock worth $38,555,071. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $1.90 during trading on Wednesday, hitting $275.77. The company had a trading volume of 319,176 shares, compared to its average volume of 1,416,143. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.52. The business's 50-day moving average is $264.63 and its 200 day moving average is $234.87. The company has a market cap of $51.60 billion, a P/E ratio of 30.82, a PEG ratio of 2.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the company posted $3.24 EPS. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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