Allen Mooney & Barnes Investment Advisors LLC Acquires 289 Shares of L3Harris Technologies Inc $LHX

Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,517 shares of the company’s stock after acquiring an additional 289 shares during the quarter. L3Harris Technologies makes up 2.0% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in L3Harris Technologies were worth $11,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in L3Harris Technologies in the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies in the first quarter worth $26,000. Beacon Capital Management LLC grew its stake in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Park Square Financial Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter worth $37,000. Finally, Cornerstone Planning Group LLC grew its stake in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.5%

NYSE LHX opened at $279.22 on Monday. The stock’s 50-day moving average price is $271.08 and its 200-day moving average price is $241.91. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $281.67. The company has a market capitalization of $52.24 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the company earned $3.24 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last 90 days. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada increased their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Truist Financial increased their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. UBS Group increased their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $279.47.

About L3Harris Technologies

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.