Allspring Global Investments Holdings LLC Has $358.66 Million Holdings in L3Harris Technologies Inc $LHX

Allspring Global Investments Holdings LLC lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 38.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,422,221 shares of the company’s stock after selling 899,103 shares during the quarter. L3Harris Technologies accounts for about 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 26th biggest position. Allspring Global Investments Holdings LLC’s holdings in L3Harris Technologies were worth $358,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC grew its stake in L3Harris Technologies by 3.7% during the 2nd quarter. LRI Investments LLC now owns 18,318 shares of the company’s stock valued at $4,595,000 after acquiring an additional 652 shares in the last quarter. Prostatis Group LLC purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $232,000. Second Half Financial Partners LLC purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $755,000. CWM LLC grew its stake in L3Harris Technologies by 7.7% during the 2nd quarter. CWM LLC now owns 5,846 shares of the company’s stock valued at $1,467,000 after acquiring an additional 420 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in L3Harris Technologies by 23.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,335 shares of the company’s stock valued at $6,865,000 after acquiring an additional 5,194 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday. Citigroup boosted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Truist Financial boosted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

L3Harris Technologies Stock Down 1.9%

LHX opened at $292.45 on Monday. The firm has a market cap of $54.72 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business has a 50 day moving average price of $281.74 and a 200 day moving average price of $253.22. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

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

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

Insider Transactions at L3Harris Technologies

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

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.