Baxter Bros Inc. Has $4.14 Million Position in L3Harris Technologies Inc $LHX

Baxter Bros Inc. reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 18.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,515 shares of the company’s stock after selling 3,657 shares during the period. Baxter Bros Inc.’s holdings in L3Harris Technologies were worth $4,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LHX. Nuveen LLC acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of L3Harris Technologies by 946.6% in the 1st 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. Wellington Management Group LLP boosted its stake in shares of L3Harris Technologies by 12.2% in the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after purchasing an additional 311,886 shares in the last quarter. Finally, Appaloosa LP acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $62,793,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 1.8%

L3Harris Technologies stock opened at $306.83 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $306.83. The firm has a 50 day moving average price of $280.99 and a two-hundred day moving average price of $251.50. The firm has a market cap of $57.41 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.20 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (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 firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the business earned $3.24 EPS. The company’s 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. Equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on LHX. Truist Financial raised their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $279.47.

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.