L3Harris Technologies Inc $LHX Position Lifted by Baird Financial Group Inc.

Baird Financial Group Inc. grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,849 shares of the company’s stock after acquiring an additional 9,276 shares during the period. Baird Financial Group Inc. owned about 0.13% of L3Harris Technologies worth $59,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. Vanguard Group Inc. grew its stake in L3Harris Technologies by 0.5% in the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after purchasing an additional 121,619 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in L3Harris Technologies by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after buying an additional 181,550 shares in the last quarter. Wellington Management Group LLP lifted its holdings in L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after buying an additional 557,610 shares during the last quarter. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after buying an additional 38,820 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after acquiring an additional 1,413,833 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LHX. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Truist Financial boosted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. raised their price target on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $295.00.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $280.54 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The company has a market cap of $52.48 billion, a PE ratio of 30.13, a P/E/G ratio of 1.95 and a beta of 0.65. The stock has a 50 day simple moving average of $289.59 and a 200-day simple moving average of $272.21. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business earned $3.34 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

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.