Empowered Funds LLC Increases Stock Holdings in L3Harris Technologies Inc $LHX

Empowered Funds LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,826 shares of the company’s stock after purchasing an additional 1,091 shares during the quarter. Empowered Funds LLC’s holdings in L3Harris Technologies were worth $4,359,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock valued at $926,000 after buying an additional 216 shares during the last quarter. Dean Capital Management lifted its position in L3Harris Technologies by 11.5% in the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock valued at $2,009,000 after buying an additional 986 shares during the last quarter. BankPlus Wealth Management LLC lifted its position in L3Harris Technologies by 6.0% in the first quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $432,000 after buying an additional 117 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in L3Harris Technologies by 21.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock valued at $1,488,000 after buying an additional 1,236 shares during the last quarter. Finally, Amundi lifted its position in L3Harris Technologies by 33.9% in the first quarter. Amundi now owns 104,530 shares of the company’s stock valued at $21,945,000 after buying an additional 26,453 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LHX. Barclays increased their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada raised their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Robert W. Baird raised 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. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

L3Harris Technologies Stock Down 0.5%

Shares of NYSE:LHX opened at $279.22 on Friday. The stock has a 50-day simple moving average of $271.08 and a 200-day simple moving average of $241.38. The stock has a market capitalization of $52.24 billion, a P/E ratio of 31.20, a PEG ratio of 2.05 and a beta of 0.76. 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 1 year low of $193.09 and a 1 year high of $281.67.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s payout ratio is 53.63%.

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.