Rakuten Investment Management Inc. Invests $66.85 Million in L3Harris Technologies Inc $LHX

Rakuten Investment Management Inc. acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 218,879 shares of the company’s stock, valued at approximately $66,848,000. Rakuten Investment Management Inc. owned approximately 0.12% of L3Harris Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kiker Wealth Management LLC grew its position in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in L3Harris Technologies during the second quarter valued at $32,000. Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in L3Harris Technologies in the 2nd quarter worth about $34,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $34,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LHX. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $315.00 to $360.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. UBS Group lifted their price objective on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.73.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated Thursday, November 13th. The stock was 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 in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $341.82 on Wednesday. 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 52-week low of $193.09 and a 52-week high of $361.59. The company has a fifty day moving average of $297.47 and a 200-day moving average of $286.47. The stock has a market capitalization of $63.94 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.15 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $3.34 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

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.