Moody Lynn & Lieberson LLC Takes Position in L3Harris Technologies Inc $LHX

Moody Lynn & Lieberson LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, HoldingsChannel reports. The institutional investor bought 16,215 shares of the company’s stock, valued at approximately $4,067,000.

Other large investors have also added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the first quarter worth about $26,000. Beacon Capital Management LLC increased its position in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $39,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Truist Financial upped their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. UBS Group increased their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $293.83 on Monday. The company has a market cap of $54.98 billion, a P/E ratio of 32.83, a PEG ratio of 2.15 and a beta of 0.76. The business has a 50 day moving average of $275.90 and a two-hundred day moving average of $247.05. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $293.94. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the business posted $3.24 EPS. The business’s revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a dividend of $1.20 per share. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

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.