Penserra Capital Management LLC Sells 3,137 Shares of L3Harris Technologies Inc $LHX

Penserra Capital Management LLC lessened its holdings in L3Harris Technologies Inc (NYSE:LHX) by 32.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,538 shares of the company’s stock after selling 3,137 shares during the quarter. Penserra Capital Management LLC’s holdings in L3Harris Technologies were worth $1,639,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. Arizona State Retirement System boosted its position in L3Harris Technologies by 2.7% during the first quarter. Arizona State Retirement System now owns 55,662 shares of the company’s stock valued at $11,651,000 after purchasing an additional 1,488 shares during the last quarter. Stephens Inc. AR boosted its position in L3Harris Technologies by 13.1% during the first quarter. Stephens Inc. AR now owns 6,340 shares of the company’s stock valued at $1,327,000 after purchasing an additional 734 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in L3Harris Technologies by 6.5% in the first quarter. Stephens Investment Management Group LLC now owns 76,145 shares of the company’s stock valued at $15,938,000 after purchasing an additional 4,648 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its position in shares of L3Harris Technologies by 6.2% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 18,442 shares of the company’s stock worth $3,860,000 after purchasing an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Morgan Stanley lifted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $295.63.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction on 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 transaction, 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 filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Up 2.2%

Shares of LHX opened at $296.92 on Tuesday. The firm has a market cap of $55.54 billion, a P/E ratio of 33.18, 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. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The firm’s 50-day simple moving average is $288.45 and its 200 day simple moving average is $265.02.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.34 earnings per share. The business’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. On average, analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s payout ratio is 51.56%.

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.