8,520 Shares in L3Harris Technologies Inc $LHX Acquired by Prudential PLC

Prudential PLC acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,520 shares of the company’s stock, valued at approximately $2,137,000.

A number of other institutional investors also recently modified their holdings of the stock. Cyndeo Wealth Partners LLC increased its stake in shares of L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after acquiring an additional 37 shares during the last quarter. Fidelis Capital Partners LLC increased its position in L3Harris Technologies by 2.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after purchasing an additional 39 shares during the last quarter. Independence Bank of Kentucky increased its position in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the last quarter. DB Fitzpatrick & Co Inc raised its stake in shares of L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after purchasing an additional 42 shares in the last quarter. Finally, Riverbend Wealth Management LLC lifted its holdings in shares of L3Harris Technologies by 4.3% during the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock valued at $258,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $277.70 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $291.00 and a 200 day simple moving average of $269.10. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The firm has a market cap of $51.94 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.09 and a beta of 0.75.

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

L3Harris Technologies Announces Dividend

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

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LHX. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Truist Financial raised their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. UBS Group upped their price objective on shares of L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, BNP Paribas Exane began coverage on L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $295.29.

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.