L3Harris Technologies Inc $LHX Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,651 shares of the company’s stock after buying an additional 12,877 shares during the period. Empower Advisory Group LLC owned approximately 0.21% of L3Harris Technologies worth $100,499,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 1.9% during the first 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 in the last quarter. Wellington Management Group LLP grew its position 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 buying an additional 557,610 shares during the last quarter. Geode Capital Management LLC raised its stake in L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after acquiring an additional 38,820 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 last quarter. Finally, Invesco Ltd. boosted its stake in L3Harris Technologies by 5.0% in the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after acquiring an additional 112,271 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LHX. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Royal Bank Of Canada boosted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a report on Thursday. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $295.63.

L3Harris Technologies Stock Performance

Shares of LHX opened at $289.02 on Friday. The stock has a market capitalization of $54.06 billion, a P/E ratio of 32.29, a P/E/G ratio of 2.09 and a beta of 0.75. 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 1 year low of $193.09 and a 1 year high of $308.12. The company’s fifty day moving average is $290.17 and its two-hundred day moving average is $266.51.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping 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 company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $3.34 EPS. The business’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s payout ratio is presently 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’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 value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.