L3Harris Technologies Inc $LHX Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,261 shares of the company’s stock after selling 1,099 shares during the quarter. L3Harris Technologies accounts for about 1.4% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 29th biggest position. Matrix Asset Advisors Inc. NY’s holdings in L3Harris Technologies were worth $13,862,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new stake in L3Harris Technologies in the first quarter valued at $26,000. Nova Wealth Management Inc. acquired a new stake in L3Harris Technologies in the first quarter valued at $26,000. Beacon Capital Management LLC lifted its holdings in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Independence Bank of Kentucky lifted its holdings in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.9%

L3Harris Technologies stock opened at $292.45 on Friday. The stock has a market cap of $54.72 billion, a PE ratio of 32.68, a P/E/G ratio of 2.14 and a beta of 0.76. The stock has a 50-day moving average price of $281.74 and a 200 day moving average price of $252.94. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies 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 sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LHX. Robert W. Baird raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday. Royal Bank Of Canada raised their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Barclays raised their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Susquehanna raised their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $278.19.

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.