SageView Advisory Group LLC Sells 351 Shares of L3Harris Technologies Inc $LHX

SageView Advisory Group LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,985 shares of the company’s stock after selling 351 shares during the quarter. SageView Advisory Group LLC’s holdings in L3Harris Technologies were worth $1,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LHX. Nuveen LLC bought a new position in L3Harris Technologies in the first quarter worth about $299,157,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in 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 worth $164,297,000 after purchasing an additional 709,948 shares in the last quarter. Wellington Management Group LLP raised its holdings in L3Harris Technologies by 12.2% in the first 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 in the last quarter. GAMMA Investing LLC raised its holdings in L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock worth $107,424,000 after purchasing an additional 510,438 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 worth $486,898,000 after purchasing an additional 311,886 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $275.39 on Thursday. The business’s 50 day moving average price is $270.16 and its 200 day moving average price is $240.31. The firm has a market cap of $51.53 billion, a P/E ratio of 30.77, a P/E/G ratio of 1.98 and a beta of 0.76. 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.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating 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%.L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,138 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $269.52, for a total value of $10,817,993.76. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $39,236,182.56. This represents a 21.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. UBS Group boosted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Robert W. Baird upped their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Truist Financial upped their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

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.