Applied Finance Capital Management LLC Takes $1.09 Million Position in L3Harris Technologies Inc $LHX

Applied Finance Capital Management LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,349 shares of the company’s stock, valued at approximately $1,091,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the first quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies during the first quarter valued at about $26,000. Beacon Capital Management LLC raised its stake in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Kiker Wealth Management LLC raised its stake in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Finally, Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies during the second quarter valued at about $32,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $284.28 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $282.94 and its two-hundred day moving average price is $254.90. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The stock has a market cap of $53.19 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results 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 net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the business earned $3.24 earnings per share. L3Harris Technologies’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. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is presently 53.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LHX. Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Barclays lifted their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Morgan Stanley lifted their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

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.