L3Harris Technologies Inc $LHX Stake Raised by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 119.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,385 shares of the company’s stock after buying an additional 355,444 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.35% of L3Harris Technologies worth $163,895,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Gold Investment Management Ltd. boosted its stake in L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares in the last quarter. BankPlus Trust Department boosted its position in shares of L3Harris Technologies by 6.9% during the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after purchasing an additional 379 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after purchasing an additional 33,019 shares in the last quarter. US Bancorp DE grew its stake in shares of L3Harris Technologies by 1.6% in the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after purchasing an additional 5,526 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $1,218,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $274.05 on Wednesday. The firm has a market cap of $51.26 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year 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. The business has a fifty day simple moving average of $289.89 and a 200 day simple moving average of $272.12.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. L3Harris Technologies’s payout ratio is 51.56%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LHX shares. Morgan Stanley lifted their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. UBS Group lifted their target price on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, BNP Paribas Exane started coverage on L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.00.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

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.