BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 139 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 13.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,209 shares of the company’s stock after acquiring an additional 139 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in L3Harris Technologies were worth $272,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in L3Harris Technologies by 12.9% in the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Capital World Investors lifted its holdings in L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of L3Harris Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after acquiring an additional 45,845 shares during the period. Wells Fargo & Company MN grew its stake in L3Harris Technologies by 2.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after acquiring an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Barclays increased their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Wells Fargo & Company decreased their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

L3Harris Technologies Stock Down 0.6 %

Shares of NYSE LHX opened at $235.28 on Wednesday. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The business’s 50 day moving average is $230.10 and its two-hundred day moving average is $220.29. The firm has a market cap of $44.63 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 1.96 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Activity

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,122 shares of company stock worth $7,612,739. Corporate insiders own 0.82% of the company’s stock.

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.