DAVENPORT & Co LLC Has $155.96 Million Stock Holdings in L3Harris Technologies Inc $LHX

DAVENPORT & Co LLC trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 624,232 shares of the company’s stock after selling 4,394 shares during the quarter. L3Harris Technologies makes up approximately 0.8% of DAVENPORT & Co LLC’s portfolio, making the stock its 28th largest position. DAVENPORT & Co LLC’s holdings in L3Harris Technologies were worth $155,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Nuveen LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at $299,157,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after buying an additional 709,948 shares during the last quarter. Wellington Management Group LLP increased its holdings in L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after buying an additional 557,610 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after acquiring an additional 311,886 shares in the last quarter. Finally, Appaloosa LP acquired a new stake in L3Harris Technologies in the first quarter valued at approximately $62,793,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Saturday, September 27th. Citigroup increased their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Susquehanna boosted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Barclays boosted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

Insider Transactions at L3Harris Technologies

In other 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 value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $297.52 on Monday. The firm has a market capitalization of $55.67 billion, a PE ratio of 33.24, a PEG ratio of 2.17 and a beta of 0.76. 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 1-year low of $193.09 and a 1-year high of $305.94. The business’s 50 day moving average is $279.07 and its 200-day moving average is $250.10.

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

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a dividend of $1.20 per share. 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 (DPR) is currently 53.63%.

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.