Burney Co. Sells 5,249 Shares of L3Harris Technologies Inc $LHX

Burney Co. reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 53,544 shares of the company’s stock after selling 5,249 shares during the period. Burney Co.’s holdings in L3Harris Technologies were worth $13,431,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LHX. Nuveen LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter worth $299,157,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of L3Harris Technologies by 946.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after acquiring an additional 709,948 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after acquiring an additional 557,610 shares during the last quarter. Appaloosa LP bought a new stake in shares of L3Harris Technologies during the 1st quarter worth $62,793,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of L3Harris Technologies by 60.8% during the 1st quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company’s stock worth $160,644,000 after acquiring an additional 290,269 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

LHX stock opened at $289.07 on Monday. The firm’s 50-day moving average price is $286.92 and its two-hundred day moving average price is $261.91. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The stock has a market capitalization of $54.08 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.09 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 (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company earned $3.34 earnings per share. The company’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. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Truist Financial lifted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.31.

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.