Vanguard Personalized Indexing Management LLC Increases Position in L3Harris Technologies Inc $LHX

Vanguard Personalized Indexing Management LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 23.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 27,335 shares of the company’s stock after buying an additional 5,194 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in L3Harris Technologies were worth $6,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LHX. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its stake in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Independence Bank of Kentucky raised its stake in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC raised its stake in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.9%

Shares of L3Harris Technologies stock opened at $292.45 on Monday. The company has a fifty day moving average price of $281.74 and a 200 day moving average price of $253.22. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The stock has a market cap of $54.72 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the company earned $3.24 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Susquehanna increased their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday. UBS Group increased their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Robert W. Baird increased their price target 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. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $278.19.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value 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 $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. Corporate insiders own 0.72% of the company’s stock.

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.