Ensign Peak Advisors Inc Buys 55,554 Shares of L3Harris Technologies Inc $LHX

Ensign Peak Advisors Inc raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 233.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,391 shares of the company’s stock after purchasing an additional 55,554 shares during the period. Ensign Peak Advisors Inc’s holdings in L3Harris Technologies were worth $19,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LHX. Empirical Finance LLC grew its stake in shares of L3Harris Technologies by 0.7% during the 2nd quarter. Empirical Finance LLC now owns 6,786 shares of the company’s stock worth $1,702,000 after acquiring an additional 44 shares during the period. Alteri Wealth LLC purchased a new stake in L3Harris Technologies during the second quarter valued at about $308,000. TD Waterhouse Canada Inc. boosted its position in L3Harris Technologies by 27.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,667 shares of the company’s stock worth $420,000 after purchasing an additional 359 shares during the period. Wealthspire Advisors LLC increased its stake in shares of L3Harris Technologies by 6.2% in the second quarter. Wealthspire Advisors LLC now owns 1,310 shares of the company’s stock worth $329,000 after purchasing an additional 76 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of L3Harris Technologies by 47.2% in the second quarter. Empowered Funds LLC now owns 30,647 shares of the company’s stock valued at $7,687,000 after purchasing an additional 9,821 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 2.3%

LHX stock opened at $277.70 on Friday. The company’s 50 day moving average is $291.00 and its 200 day moving average is $268.73. 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 current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.34 earnings per share. 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 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced 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. 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 dividend payout ratio is currently 51.56%.

Analyst Ratings Changes

Several research analysts recently commented on LHX shares. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Truist Financial lifted their price target on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley increased their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $295.29.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated 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 completion of the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

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.