Exchange Traded Concepts LLC Grows Position in L3Harris Technologies Inc $LHX

Exchange Traded Concepts LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,286 shares of the company’s stock after buying an additional 105 shares during the quarter. Exchange Traded Concepts LLC’s holdings in L3Harris Technologies were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LHX. Nuveen LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $299,157,000. Caisse DE Depot ET Placement DU Quebec grew its stake in L3Harris Technologies by 946.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after purchasing an additional 709,948 shares during the period. Wellington Management Group LLP grew its stake in L3Harris Technologies by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after purchasing an additional 557,610 shares during the period. GAMMA Investing LLC grew its stake in L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after purchasing an additional 510,438 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after purchasing an additional 311,886 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $284.34 on Tuesday. The stock has a market capitalization of $53.20 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $286.81. The business’s 50 day simple moving average is $273.95 and its two-hundred day simple moving average is $244.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 firm had revenue of $5.43 billion for 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%.The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given 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 was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LHX. UBS Group upped their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Citigroup increased their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Royal Bank Of Canada raised their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Thirteen equities research 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

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.