Sumitomo Mitsui Trust Group Inc. Grows Position in L3Harris Technologies Inc $LHX

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 578,329 shares of the company’s stock after purchasing an additional 29,493 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.31% of L3Harris Technologies worth $176,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. Cyndeo Wealth Partners LLC lifted 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 valued at $350,000 after purchasing an additional 37 shares during the period. Twin Lakes Capital Management LLC lifted its position in shares of L3Harris Technologies by 0.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after acquiring an additional 38 shares during the period. Fidelis Capital Partners LLC lifted its position in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after acquiring an additional 39 shares during the period. Independence Bank of Kentucky boosted its stake in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its holdings in shares of L3Harris Technologies by 3.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after acquiring an additional 40 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $340.55 on Tuesday. The stock has a market capitalization of $63.70 billion, a P/E ratio of 36.58, a P/E/G ratio of 2.10 and a beta of 0.66. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $341.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The firm’s 50-day moving average is $291.33 and its two-hundred day moving average is $282.66.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business posted $3.34 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on LHX shares. Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. UBS Group raised their price target on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $302.29.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.