L3Harris Technologies Inc $LHX Shares Sold by Compound Planning Inc.

Compound Planning Inc. lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 14.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,973 shares of the company’s stock after selling 514 shares during the quarter. Compound Planning Inc.’s holdings in L3Harris Technologies were worth $622,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in L3Harris Technologies by 1.9% in 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 purchasing an additional 181,550 shares during the period. Wellington Management Group LLP increased its position in shares of 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 purchasing an additional 557,610 shares during the last quarter. Invesco Ltd. raised its holdings in L3Harris Technologies by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after buying an additional 112,271 shares during the period. Allspring Global Investments Holdings LLC lifted its position in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after buying an additional 311,886 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in L3Harris Technologies by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,631,041 shares of the company’s stock worth $342,975,000 after buying an additional 116,266 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,236,182.56. This represents a 21.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,199 shares of company stock worth $39,045,071. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $275.3280 on Monday. The firm has a market cap of $51.51 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.52. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $263.52 and its two-hundred day moving average is $234.08.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the firm posted $3.24 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is 53.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted 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. Truist Financial boosted their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. UBS Group upped their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.