Russell Investments Group Ltd. trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,075 shares of the company's stock after selling 7,765 shares during the period. Russell Investments Group Ltd.'s holdings in L3Harris Technologies were worth $13,411,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. grew its holdings in L3Harris Technologies by 10.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 60,200 shares of the company's stock valued at $12,587,000 after buying an additional 5,599 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of L3Harris Technologies by 7.2% during the first quarter. Public Sector Pension Investment Board now owns 25,435 shares of the company's stock valued at $5,324,000 after acquiring an additional 1,706 shares during the last quarter. AIA Group Ltd acquired a new stake in shares of L3Harris Technologies during the first quarter valued at $505,000. Longfellow Investment Management Co. LLC increased its position in L3Harris Technologies by 53.1% during the 1st quarter. Longfellow Investment Management Co. LLC now owns 3,063 shares of the company's stock worth $641,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Cypress Capital Group raised its stake in L3Harris Technologies by 11.7% in the 1st quarter. Cypress Capital Group now owns 9,475 shares of the company's stock valued at $1,983,000 after purchasing an additional 990 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at L3Harris Technologies
In other news, CEO Christopher E. Kubasik sold 40,138 shares of L3Harris Technologies stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction 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 transaction, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,199 shares of company stock valued at $39,045,071. Insiders own 0.72% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on LHX shares. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Citigroup raised their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Robert W. Baird boosted their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Truist Financial increased their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note 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. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $279.47.
Read Our Latest Stock Report on LHX
L3Harris Technologies Stock Down 0.1%
Shares of NYSE:LHX opened at $270.72 on Monday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.52. The stock has a 50-day simple moving average of $260.99 and a 200-day simple moving average of $231.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $50.65 billion, a P/E ratio of 30.25, a PEG ratio of 1.98 and a beta of 0.77.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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 net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business earned $3.24 earnings per share. The business's quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio is presently 53.63%.
About L3Harris Technologies
(
Free Report)
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.
Recommended Stories
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.
Before you consider L3Harris Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and L3Harris Technologies wasn't on the list.
While L3Harris Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
MarketBeat All Access