Spinnaker Trust Purchases 905 Shares of L3Harris Technologies Inc $LHX

Spinnaker Trust boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,955 shares of the company’s stock after acquiring an additional 905 shares during the quarter. Spinnaker Trust’s holdings in L3Harris Technologies were worth $992,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Kiker Wealth Management LLC lifted its position in 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 during the last quarter. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the 1st quarter valued at $26,000. Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies during the 2nd quarter worth $32,000. Finally, Independence Bank of Kentucky lifted its holdings in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated Friday, September 12th. The shares were 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 of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

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 report on Wednesday, October 8th. Morgan Stanley increased their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. UBS Group lifted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” 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, Robert W. Baird raised their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $287.63.

L3Harris Technologies Trading Up 2.9%

NYSE LHX opened at $295.20 on Friday. The stock has a market cap of $55.23 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The stock has a 50 day simple moving average of $286.64 and a two-hundred day simple moving average of $260.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Announces Dividend

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 $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is 53.63%.

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.