Welch & Forbes LLC Acquires 1,283 Shares of L3Harris Technologies Inc $LHX

Welch & Forbes LLC raised its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,889 shares of the company’s stock after purchasing an additional 1,283 shares during the period. Welch & Forbes LLC owned 0.08% of L3Harris Technologies worth $35,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gold Investment Management Ltd. grew its holdings in shares of L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares during the last quarter. BankPlus Trust Department grew its holdings in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after buying an additional 379 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after buying an additional 33,019 shares during the last quarter. US Bancorp DE grew its holdings in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after buying an additional 5,526 shares during the last quarter. Finally, Dean Capital Management grew its holdings in shares of L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock valued at $2,009,000 after buying an additional 986 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 2.3%

Shares of L3Harris Technologies stock opened at $289.07 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The company’s fifty day simple moving average is $286.92 and its 200-day simple moving average is $261.61. The stock has a market capitalization of $54.08 billion, a PE ratio of 32.30, a P/E/G ratio of 2.09 and a beta of 0.76.

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

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is 51.56%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on 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 transaction, 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 can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Truist Financial raised their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $290.31.

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.