Burney Co. Trims Stake in L3Harris Technologies Inc $LHX

Burney Co. lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,544 shares of the company’s stock after selling 5,249 shares during the quarter. Burney Co.’s holdings in L3Harris Technologies were worth $13,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Meridian Management Co. bought a new stake in L3Harris Technologies during the second quarter worth about $250,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in L3Harris Technologies by 24.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 24,253 shares of the company’s stock worth $6,084,000 after acquiring an additional 4,740 shares in the last quarter. Welch & Forbes LLC boosted its stake in L3Harris Technologies by 0.9% during the second quarter. Welch & Forbes LLC now owns 142,889 shares of the company’s stock worth $35,842,000 after acquiring an additional 1,283 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in L3Harris Technologies during the second quarter worth about $219,000. Finally, GHP Investment Advisors Inc. boosted its stake in L3Harris Technologies by 2.5% during the second quarter. GHP Investment Advisors Inc. now owns 32,604 shares of the company’s stock worth $8,178,000 after acquiring an additional 798 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 2.3%

Shares of NYSE LHX opened at $289.07 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm’s 50 day moving average price is $286.92 and its 200-day moving average price is $261.91. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The company has a market cap 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 quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the company earned $3.34 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts expect 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. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is presently 51.56%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday. Citigroup upped their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Truist Financial upped their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.31.

About L3Harris Technologies

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.