Hartford Investment Management Co. Decreases Stock Holdings in L3Harris Technologies Inc $LHX

Hartford Investment Management Co. trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,279 shares of the company’s stock after selling 208 shares during the period. Hartford Investment Management Co.’s holdings in L3Harris Technologies were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in LHX. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. Vise Technologies Inc. bought a new position in shares of L3Harris Technologies in the fourth quarter worth $200,000. Jefferies Financial Group Inc. bought a new position in shares of L3Harris Technologies in the fourth quarter worth $232,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of L3Harris Technologies in the fourth quarter worth $5,105,000. Finally, Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth $37,000. 84.76% of the stock is owned by institutional investors.

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 completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock opened at $293.83 on Friday. The stock has a market capitalization of $54.98 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.76. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $293.94. 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 stock’s 50 day simple moving average is $275.90 and its 200 day simple moving average is $246.54.

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

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on LHX. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Citigroup boosted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Robert W. Baird lifted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $279.47.

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.