Brandywine Global Investment Management LLC Decreases Holdings in L3Harris Technologies Inc $LHX

Brandywine Global Investment Management LLC decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,761 shares of the company’s stock after selling 3,020 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of L3Harris Technologies worth $27,783,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies during the first quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the 1st quarter worth approximately $26,000. Kiker Wealth Management LLC increased its position in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares during the period. Harbor Asset Planning Inc. purchased a new stake in L3Harris Technologies in the 2nd quarter valued at $32,000. Finally, Independence Bank of Kentucky raised its holdings in shares of L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on LHX. Robert W. Baird boosted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. UBS Group upped their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. BNP Paribas raised L3Harris Technologies to a “hold” rating in a research note on Tuesday. Finally, Citigroup raised 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. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.29.

L3Harris Technologies Trading Down 2.3%

NYSE:LHX opened at $277.70 on Friday. The stock has a market cap of $51.94 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. 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 $291.00 and its 200 day simple moving average is $268.73. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

About L3Harris Technologies

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.