Avantra Family Wealth Inc. Increases Stock Position in L3Harris Technologies Inc $LHX

Avantra Family Wealth Inc. raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,736 shares of the company’s stock after purchasing an additional 117 shares during the quarter. L3Harris Technologies accounts for about 1.0% of Avantra Family Wealth Inc.’s holdings, making the stock its 24th biggest position. Avantra Family Wealth Inc.’s holdings in L3Harris Technologies were worth $1,188,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC lifted its position in shares of L3Harris Technologies by 4.6% during the 2nd quarter. Heck Capital Advisors LLC now owns 2,683 shares of the company’s stock valued at $673,000 after acquiring an additional 117 shares during the period. D.B. Root & Company LLC lifted its position in shares of L3Harris Technologies by 35.3% during the 2nd quarter. D.B. Root & Company LLC now owns 2,220 shares of the company’s stock valued at $557,000 after acquiring an additional 579 shares during the period. Belpointe Asset Management LLC lifted its position in shares of L3Harris Technologies by 37.1% during the 2nd quarter. Belpointe Asset Management LLC now owns 3,327 shares of the company’s stock valued at $835,000 after acquiring an additional 900 shares during the period. Asset Planning Services Inc. LA ADV lifted its position in shares of L3Harris Technologies by 0.3% during the 2nd quarter. Asset Planning Services Inc. LA ADV now owns 23,385 shares of the company’s stock valued at $5,866,000 after acquiring an additional 75 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in shares of L3Harris Technologies by 16.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,964 shares of the company’s stock valued at $493,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LHX. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Saturday, September 27th. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Truist Financial lifted their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

L3Harris Technologies Trading Up 1.9%

Shares of L3Harris Technologies stock opened at $302.99 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $305.94. The company has a market capitalization of $56.69 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.17 and a beta of 0.76. The business has a 50 day moving average price of $279.74 and a 200 day moving average price of $250.77.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s payout ratio is presently 53.63%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by insiders.

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.