L3Harris Technologies Inc $LHX Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,215,277 shares of the company’s stock after selling 132,071 shares during the period. Invesco Ltd. owned about 1.18% of L3Harris Technologies worth $555,680,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new position in L3Harris Technologies in the first quarter worth about $299,157,000. Bank of New York Mellon Corp raised its stake in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after buying an additional 1,413,833 shares in the last quarter. AGF Management Ltd. bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $324,940,000. Boston Partners lifted its holdings in L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after buying an additional 838,546 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of L3Harris Technologies by 946.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after acquiring an additional 709,948 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Morgan Stanley increased their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Monday. Finally, BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $295.00.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $280.54 on Friday. The firm has a market capitalization of $52.48 billion, a PE ratio of 30.13, a PEG ratio of 1.95 and a beta of 0.65. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $289.59 and its 200 day simple moving average is $272.21.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 8.09% and a return on equity of 11.08%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current 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 issued a $1.20 dividend. The ex-dividend date of this dividend 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 (DPR) is 51.56%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred 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. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by corporate 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.