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

UniSuper Management Pty Ltd lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 13.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 17,537 shares of the company’s stock after buying an additional 2,127 shares during the period. UniSuper Management Pty Ltd’s holdings in L3Harris Technologies were worth $5,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after acquiring an additional 1,413,833 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $324,940,000. Boston Partners lifted its position in shares of L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after purchasing an additional 838,546 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in L3Harris Technologies by 8,284.6% during the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after purchasing an additional 766,075 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in L3Harris Technologies by 155.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock worth $155,107,000 after purchasing an additional 376,499 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the 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 transaction, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, January 12th. Vertical Research reaffirmed a “buy” rating and set a $355.00 price target on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Morgan Stanley boosted 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $315.73.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $354.66 on Monday. The business’s 50 day simple moving average is $301.06 and its 200 day simple moving average is $288.48. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $361.59. The company has a market cap of $66.34 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.22 and a beta of 0.66. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last issued 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. 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.34 earnings per share. The business’s 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. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current 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 issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. This is a boost 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 currently 51.56%.

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.