TD Asset Management Inc Purchases 15,541 Shares of L3Harris Technologies Inc $LHX

Key Points

• TD Asset Management Inc increased its holdings in L3Harris Technologies by 13.9%, acquiring an additional 15,541 shares which brought its total ownership to 127,223 shares valued at approximately $31.9 million.
• L3Harris Technologies reported earnings of $2.78 per share, surpassing analysts' estimates, and achieved a revenue of $5.43 billion for the last quarter, which is a year-over-year increase of 2.4%.
• Additionally, the company announced a $1.20 quarterly dividend to be paid on December 5th, translating to an annualized yield of 1.7%.

TD Asset Management Inc lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,223 shares of the company's stock after purchasing an additional 15,541 shares during the quarter. TD Asset Management Inc owned about 0.07% of L3Harris Technologies worth $31,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in L3Harris Technologies by 11.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,559 shares of the company's stock worth $326,000 after acquiring an additional 162 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in L3Harris Technologies by 7.9% during the first quarter. Exchange Traded Concepts LLC now owns 4,181 shares of the company's stock worth $875,000 after acquiring an additional 305 shares in the last quarter. Sowell Financial Services LLC bought a new stake in L3Harris Technologies during the first quarter worth about $216,000. Finally, CENTRAL TRUST Co boosted its stake in L3Harris Technologies by 12.9% during the first quarter. CENTRAL TRUST Co now owns 5,897 shares of the company's stock worth $1,234,000 after acquiring an additional 674 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $284.28 on Friday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The business has a 50-day simple moving average of $282.94 and a two-hundred day simple moving average of $254.90. 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 firm has a market cap of $53.19 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LHX shares. Royal Bank Of Canada raised 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. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. UBS Group lifted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $287.63.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by corporate insiders.

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.

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