L3Harris Technologies Inc $LHX Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 8,284.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 775,322 shares of the company’s stock after purchasing an additional 766,075 shares during the quarter. L3Harris Technologies makes up about 0.3% of Balyasny Asset Management L.P.’s portfolio, making the stock its 26th biggest holding. Balyasny Asset Management L.P. owned approximately 0.41% of L3Harris Technologies worth $194,482,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LHX. Bank of New York Mellon Corp boosted its position in L3Harris Technologies by 52.3% during the second 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 during the last quarter. AGF Management Ltd. purchased a new position in L3Harris Technologies in the 2nd quarter worth approximately $324,940,000. Boston Partners boosted its holdings in shares of L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of L3Harris Technologies by 946.6% in the first 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 in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 12.2% in the first 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 last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Truist Financial boosted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Morgan Stanley boosted their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.50.

L3Harris Technologies Trading Down 1.0%

Shares of LHX stock opened at $286.84 on Friday. The stock has a market cap of $53.65 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.03 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The business has a fifty day simple moving average of $287.77 and a 200-day simple moving average of $274.23.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

About L3Harris Technologies

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.