L3Harris Technologies Inc $LHX Stake Boosted by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,764 shares of the company’s stock after purchasing an additional 5,172 shares during the period. Stephens Investment Management Group LLC’s holdings in L3Harris Technologies were worth $20,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Cyndeo Wealth Partners LLC increased its position in L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares during the period. Twin Lakes Capital Management LLC grew its position in shares of L3Harris Technologies by 0.3% during the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after acquiring an additional 38 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of L3Harris Technologies by 2.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after acquiring an additional 39 shares during the period. Independence Bank of Kentucky increased its holdings 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 during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its position in L3Harris Technologies by 3.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on LHX shares. UBS Group upped their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial set a $364.00 price objective on L3Harris Technologies in a report on Wednesday. BNP Paribas upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Morgan Stanley lifted their target price 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. Finally, Vertical Research reissued a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $315.73.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $346.74 on Friday. The stock has a fifty day moving average price of $295.67 and a two-hundred day moving average price of $285.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a market cap of $64.86 billion, a P/E ratio of 37.24, a PEG ratio of 2.17 and a beta of 0.66. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $361.59.

L3Harris Technologies (NYSE:LHX) last announced 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 return on equity of 11.08% and a net margin of 8.09%.The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $3.34 earnings per share. The company’s 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. Research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.