Chevy Chase Trust Holdings LLC Buys 52 Shares of L3Harris Technologies Inc $LHX

Chevy Chase Trust Holdings LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,760 shares of the company’s stock after buying an additional 52 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of L3Harris Technologies worth $25,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Nuveen LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth $299,157,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of L3Harris Technologies by 946.6% during 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 during the period. Wellington Management Group LLP lifted its holdings in shares of L3Harris Technologies by 12.2% during 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 during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of L3Harris Technologies by 15.5% during 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 during the period. Finally, Appaloosa LP acquired a new position in shares of L3Harris Technologies during the first quarter worth $62,793,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $283.89 on Friday. The firm’s 50-day moving average price is $283.22 and its 200-day moving average price is $255.72. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The firm has a market capitalization of $53.12 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.07 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business earned $3.24 earnings per share. The business’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. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $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 accessible through this link. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on LHX shares. Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada boosted 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. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Thirteen 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.63.

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.