L3Harris Technologies Inc $LHX Shares Sold by Marshall Wace LLP

Marshall Wace LLP cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 91.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,679 shares of the company’s stock after selling 467,887 shares during the quarter. Marshall Wace LLP’s holdings in L3Harris Technologies were worth $10,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiker Wealth Management LLC increased its stake in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth $34,000. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies during the 1st quarter worth $26,000. Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $32,000. Finally, Independence Bank of Kentucky raised its stake in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies 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 sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Up 3.2%

NYSE:LHX opened at $286.15 on Thursday. The firm has a market capitalization of $53.52 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.94 and a beta of 0.65. The business has a 50 day simple moving average of $288.11 and a 200 day simple moving average of $273.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. 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 earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the business posted $3.34 earnings per share. The firm’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. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group boosted their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. BNP Paribas Exane assumed coverage on shares of L3Harris Technologies in a report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective for the company. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.00.

About L3Harris Technologies

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.