The Manufacturers Life Insurance Company Has $101.58 Million Stock Position in L3Harris Technologies Inc $LHX

Key Points

• The Manufacturers Life Insurance Company increased its holdings in L3Harris Technologies Inc by 6.8%, owning approximately 0.26% of the company valued at $101.58 million as of the last quarter.
• Multiple institutional investors have modified their positions, with American Century Companies Inc boosting its holdings by 43.6% during the same period.
• L3Harris Technologies recently reported quarterly earnings of $2.78 EPS, beating estimates, and announced a quarterly dividend of $1.20 per share, equating to an annual yield of 1.7%.

The Manufacturers Life Insurance Company raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 485,308 shares of the company's stock after acquiring an additional 30,737 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.26% of L3Harris Technologies worth $101,580,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LHX. Transce3nd LLC raised its stake in shares of L3Harris Technologies by 7.9% in the first quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after acquiring an additional 48 shares during the last quarter. Koshinski Asset Management Inc. raised its position in L3Harris Technologies by 3.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after purchasing an additional 50 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its stake in shares of L3Harris Technologies by 2.2% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 2,404 shares of the company's stock valued at $503,000 after acquiring an additional 51 shares during the period. Northstar Financial Companies Inc. lifted its stake in shares of L3Harris Technologies by 2.7% during the first quarter. Northstar Financial Companies Inc. now owns 2,009 shares of the company's stock valued at $421,000 after acquiring an additional 52 shares during the period. Finally, CWC Advisors LLC. lifted its holdings in L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after buying an additional 53 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX stock traded down $2.38 during trading on Wednesday, reaching $272.74. 1,105,830 shares of the company's stock were exchanged, compared to its average volume of 1,409,455. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52. The stock has a market capitalization of $51.03 billion, a PE ratio of 30.47, a PEG ratio of 2.03 and a beta of 0.76. The firm's fifty day moving average price is $267.41 and its 200-day moving average price is $237.44. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.8%. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LHX. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Barclays lifted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their target price 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. Finally, UBS Group lifted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,138 shares of the company's 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 completion of the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $39,236,182.56. This represents a 21.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 145,199 shares of company stock worth $38,555,071. Corporate insiders own 0.72% of the company's stock.

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.