Horrell Capital Management Inc. Raises Position in L3Harris Technologies Inc $LHX

Horrell Capital Management Inc. raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,427 shares of the company’s stock after acquiring an additional 597 shares during the quarter. L3Harris Technologies makes up approximately 2.8% of Horrell Capital Management Inc.’s holdings, making the stock its 12th largest position. Horrell Capital Management Inc.’s holdings in L3Harris Technologies were worth $6,880,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in L3Harris Technologies in the first quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at $26,000. Kiker Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies in the 2nd quarter worth about $32,000. Finally, Independence Bank of Kentucky increased its stake in shares of L3Harris Technologies by 44.4% in 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 in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Morgan Stanley lifted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Finally, Weiss Ratings downgraded L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $295.63.

L3Harris Technologies Stock Up 1.5%

Shares of L3Harris Technologies stock opened at $301.59 on Wednesday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $288.97 and its 200 day moving average is $265.62. The company has a market cap of $56.41 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last announced 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. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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 (DPR) is presently 51.56%.

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.