Cullen Frost Bankers Inc. lessened its holdings in L3Harris Technologies Inc (NYSE:LHX – Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,910 shares of the company’s stock after selling 935 shares during the period. Cullen Frost Bankers Inc.’s holdings in L3Harris Technologies were worth $16,533,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after purchasing an additional 181,550 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 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. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after purchasing an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $299,157,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on LHX shares. UBS Group upped their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Barclays increased their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Citigroup increased their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Robert W. Baird increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, Truist Financial increased their target price on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.
L3Harris Technologies Trading Up 0.6%
LHX opened at $292.39 on Wednesday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The company has a market cap of $54.71 billion, a P/E ratio of 32.67, a PEG ratio of 2.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business’s 50-day simple moving average is $284.08 and its 200-day simple moving average is $256.91.
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the business posted $3.24 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is 53.63%.
Insider Activity
In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by corporate insiders.
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.
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