L3Harris Technologies Inc $LHX Shares Acquired by Intrust Bank NA

Intrust Bank NA lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,057 shares of the company’s stock after purchasing an additional 402 shares during the quarter. Intrust Bank NA’s holdings in L3Harris Technologies were worth $1,018,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of 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 acquiring an additional 181,550 shares during the last quarter. Wellington Management Group LLP raised its position in 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 purchasing an additional 557,610 shares during the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 38,820 shares during the period. Bank of New York Mellon Corp boosted its stake in L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. Finally, Invesco Ltd. grew its position in L3Harris Technologies by 5.0% during the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock worth $491,323,000 after purchasing an additional 112,271 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.4%

Shares of NYSE LHX opened at $288.15 on Tuesday. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The firm has a 50-day moving average price of $290.46 and a 200 day moving average price of $267.63. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $3.34 earnings per share. The firm’s revenue for the quarter 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 anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on LHX shares. Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Citigroup upped their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Morgan Stanley boosted their target price on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $295.63.

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.