Rockefeller Capital Management L.P. Raises Stake in L3Harris Technologies Inc $LHX

Rockefeller Capital Management L.P. increased its position in L3Harris Technologies Inc (NYSE:LHX) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 368,266 shares of the company’s stock after buying an additional 11,237 shares during the period. Rockefeller Capital Management L.P. owned about 0.20% of L3Harris Technologies worth $92,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Larson Financial Group LLC increased its stake in L3Harris Technologies by 20.3% in the 1st quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $152,000 after acquiring an additional 123 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of L3Harris Technologies by 4.3% in the first quarter. Verdence Capital Advisors LLC now owns 1,587 shares of the company’s stock valued at $332,000 after purchasing an additional 65 shares in the last quarter. Transce3nd LLC increased its position in L3Harris Technologies by 7.9% in the first quarter. Transce3nd LLC now owns 652 shares of the company’s stock worth $137,000 after purchasing an additional 48 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in L3Harris Technologies in the first quarter worth $793,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 0.2%

Shares of LHX opened at $289.02 on Friday. The firm has a fifty day moving average price of $290.17 and a 200-day moving average price of $266.82. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm 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. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is presently 51.56%.

Analyst Ratings Changes

A number of brokerages recently commented on LHX. Citigroup increased their price target 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. Royal Bank Of Canada raised 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. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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 firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

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.