Park Avenue Securities LLC Purchases New Position in L3Harris Technologies Inc $LHX

Park Avenue Securities LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,944 shares of the company’s stock, valued at approximately $2,732,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 0.5% during the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after buying an additional 121,619 shares during the period. State Street Corp grew its holdings in L3Harris Technologies by 1.2% during the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after acquiring an additional 105,402 shares in the last quarter. Geode Capital Management LLC grew its holdings in L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after acquiring an additional 38,820 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. Finally, Boston Partners raised its holdings in shares of L3Harris Technologies by 72.1% in the 2nd 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. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $336.07 on Friday. 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 has a market cap of $62.86 billion, a PE ratio of 36.10, a P/E/G ratio of 2.04 and a beta of 0.66. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $338.23. The stock has a fifty day moving average price of $290.29 and a 200-day moving average price of $281.53.

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. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $3.34 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Monday. BNP Paribas upgraded L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. UBS Group boosted their price target on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Wall Street Zen raised L3Harris Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.29.

About L3Harris Technologies

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.