UniSuper Management Pty Ltd Acquires 2,127 Shares of L3Harris Technologies Inc $LHX

UniSuper Management Pty Ltd raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 13.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,537 shares of the company’s stock after purchasing an additional 2,127 shares during the period. UniSuper Management Pty Ltd’s holdings in L3Harris Technologies were worth $5,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. Farther Finance Advisors LLC increased its position in L3Harris Technologies by 22.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,047 shares of the company’s stock valued at $514,000 after purchasing an additional 375 shares during the period. Patton Fund Management Inc. bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $255,000. Signaturefd LLC lifted its position in shares of L3Harris Technologies by 2.0% in the 2nd quarter. Signaturefd LLC now owns 8,765 shares of the company’s stock worth $2,199,000 after purchasing an additional 176 shares during the period. Finally, LVW Advisors LLC boosted its stake in shares of L3Harris Technologies by 21.9% in the 2nd quarter. LVW Advisors LLC now owns 1,553 shares of the company’s stock valued at $389,000 after purchasing an additional 279 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LHX shares. UBS Group lifted their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley lifted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Citigroup upped their target price on L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, January 12th. Finally, Royal Bank Of Canada boosted their price target on L3Harris Technologies from $315.00 to $360.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $315.73.

L3Harris Technologies Stock Down 0.3%

LHX stock opened at $354.66 on Monday. The stock’s 50 day simple moving average is $301.06 and its 200 day simple moving average is $288.48. The company has a market cap of $66.34 billion, a P/E ratio of 38.09, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $361.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $3.34 earnings per share. The company’s quarterly 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. On average, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Profile

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.