Arkadios Wealth Advisors Acquires 9,873 Shares of L3Harris Technologies Inc $LHX

Arkadios Wealth Advisors boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 416.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,246 shares of the company’s stock after purchasing an additional 9,873 shares during the quarter. Arkadios Wealth Advisors’ holdings in L3Harris Technologies were worth $3,072,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LHX. Nuveen LLC purchased a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of L3Harris Technologies by 946.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after acquiring an additional 709,948 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after acquiring an additional 557,610 shares in the last quarter. Appaloosa LP purchased a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $62,793,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of L3Harris Technologies by 60.8% during the 1st quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company’s stock worth $160,644,000 after acquiring an additional 290,269 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $295.20 on Friday. The stock’s fifty day moving average is $286.64 and its two-hundred day moving average is $260.86. The company has a market capitalization of $55.23 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. 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 $308.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is 53.63%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LHX. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Robert W. Baird increased their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.63.

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.