4,510 Shares in L3Harris Technologies Inc $LHX Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 4,510 shares of L3Harris Technologies, valued at approximately $937,000, indicating growing institutional interest in the company.
• L3Harris Technologies reported a quarterly earnings per share of $2.78, which surpassed analysts' expectations of $2.48, with revenues totaling $5.43 billion.
• The company recently announced a dividend of $1.20 per share, which will be paid to shareholders of record, yielding an annualized rate of 1.8%.

United Services Automobile Association bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,510 shares of the company's stock, valued at approximately $937,000.

Other hedge funds also recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at $26,000. Beacon Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at $37,000. Cornerstone Planning Group LLC boosted its holdings in shares of L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by insiders.

L3Harris Technologies Trading Down 0.5%

Shares of NYSE:LHX traded down $1.41 during midday trading on Friday, reaching $279.22. The company's stock had a trading volume of 800,756 shares, compared to its average volume of 971,640. The firm has a market capitalization of $52.24 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.04 and a beta of 0.76. 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 50 day moving average price of $271.08 and a two-hundred day moving average price of $241.91. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $281.67.

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. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's payout ratio is currently 53.63%.

Wall Street Analyst Weigh In

Several research analysts have commented on LHX shares. UBS Group lifted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. 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. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Royal Bank Of Canada lifted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Thirteen 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 stock has an average rating of "Moderate Buy" and an average target price 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.