Trust Co. of Toledo NA OH Buys New Stake in L3Harris Technologies Inc $LHX

Trust Co. of Toledo NA OH acquired a new position in L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel.com reports. The fund acquired 386 shares of the company’s stock, valued at approximately $97,000.

Other large investors have also modified their holdings of the company. Cyndeo Wealth Partners LLC grew its stake in shares of L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after acquiring an additional 37 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares in the last quarter. DB Fitzpatrick & Co Inc grew its stake in shares of L3Harris Technologies by 1.0% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after acquiring an additional 42 shares in the last quarter. Norway Savings Bank grew its stake in L3Harris Technologies by 3.0% during the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock worth $374,000 after purchasing an additional 44 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in L3Harris Technologies by 3.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock worth $314,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group boosted 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. Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Barclays boosted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Trading Down 1.9%

Shares of L3Harris Technologies stock opened at $292.45 on Monday. 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 Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The stock has a market cap of $54.72 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 2.14 and a beta of 0.76. The company has a fifty day simple moving average of $281.74 and a 200-day simple moving average of $253.22.

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

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on 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 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. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 195,138 shares of company stock valued at $53,571,774 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies 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.