L3Harris Technologies Inc $LHX Holdings Lifted by KCM Investment Advisors LLC

KCM Investment Advisors LLC boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,879 shares of the company’s stock after acquiring an additional 304 shares during the quarter. KCM Investment Advisors LLC’s holdings in L3Harris Technologies were worth $6,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of L3Harris Technologies by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock worth $2,058,151,000 after purchasing an additional 181,550 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 buying an additional 557,610 shares in the last quarter. Bank of New York Mellon Corp increased its stake in L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after acquiring an additional 1,413,833 shares during the period. Invesco Ltd. raised its position in L3Harris Technologies by 5.0% in the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock worth $491,323,000 after purchasing an additional 112,271 shares in the last quarter. Finally, Nuveen LLC bought a new position in L3Harris Technologies during the first quarter worth about $299,157,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada upped their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Finally, Truist Financial upped their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $295.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Up 2.0%

Shares of NYSE LHX opened at $290.67 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The firm’s 50-day simple moving average is $288.06 and its 200 day simple moving average is $263.77. 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 company has a market cap of $54.37 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company posted $3.34 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, research analysts expect 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. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is 51.56%.

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.