Yacktman Asset Management LP Lowers Stock Holdings in L3Harris Technologies Inc $LHX

Yacktman Asset Management LP lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 519,641 shares of the company’s stock after selling 30,865 shares during the period. L3Harris Technologies accounts for 1.8% of Yacktman Asset Management LP’s investment portfolio, making the stock its 25th biggest position. Yacktman Asset Management LP owned about 0.28% of L3Harris Technologies worth $130,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Gold Investment Management Ltd. increased its position in shares of L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after acquiring an additional 904 shares during the last quarter. BankPlus Trust Department increased its position in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after acquiring an additional 379 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after acquiring an additional 33,019 shares during the last quarter. US Bancorp DE increased its position in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after acquiring an additional 5,526 shares during the last quarter. Finally, Dean Capital Management increased its position in shares of L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after acquiring an additional 986 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Truist Financial boosted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $295.63.

Insider Activity at L3Harris Technologies

In other 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 transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 1.4%

Shares of L3Harris Technologies stock opened at $287.17 on Thursday. 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 firm has a market cap of $53.73 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.09 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The business has a 50-day moving average price of $287.63 and a 200 day moving average price of $263.09.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced 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 of this dividend 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 51.56%.

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.