Vanguard Personalized Indexing Management LLC Increases Stock Position in L3Harris Technologies Inc $LHX

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in L3Harris Technologies Inc by 23.5% in the second quarter, owning 27,335 shares worth approximately $6.87 million.
• Multiple institutional investors, including Aberdeen Group plc and Johnson Investment Counsel Inc., raised their positions in L3Harris, demonstrating strong institutional support with 84.76% of shares owned by such investors.
• Analysts have increased their target prices for L3Harris, with Barclays setting a new target of $305, and overall, the stock maintains a "Moderate Buy" rating with an average target of $278.19.

Vanguard Personalized Indexing Management LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 23.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,335 shares of the company's stock after acquiring an additional 5,194 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in L3Harris Technologies were worth $6,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC lifted its position in L3Harris Technologies by 7.8% in the second quarter. Concurrent Investment Advisors LLC now owns 28,668 shares of the company's stock valued at $7,191,000 after acquiring an additional 2,062 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in L3Harris Technologies by 22.9% in the second quarter. Johnson Investment Counsel Inc. now owns 3,621 shares of the company's stock valued at $908,000 after acquiring an additional 674 shares during the last quarter. Apollon Wealth Management LLC lifted its position in L3Harris Technologies by 7.4% in the second quarter. Apollon Wealth Management LLC now owns 20,710 shares of the company's stock valued at $5,195,000 after acquiring an additional 1,426 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in L3Harris Technologies in the second quarter valued at $97,000. Finally, Aberdeen Group plc lifted its position in L3Harris Technologies by 29.6% in the second quarter. Aberdeen Group plc now owns 29,787 shares of the company's stock valued at $7,472,000 after acquiring an additional 6,803 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LHX has been the subject of a number of research reports. Barclays upped their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. UBS Group upped their target price 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. Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $278.19.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last quarter. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Down 1.9%

Shares of LHX opened at $292.45 on Monday. The firm's 50-day moving average is $281.74 and its two-hundred day moving average is $253.22. The firm has a market capitalization of $54.72 billion, a P/E ratio of 32.68, a PEG ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a $1.20 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio is currently 53.63%.

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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