L3Harris Technologies Inc $LHX Shares Sold by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 72.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 145 shares of the company’s stock after selling 383 shares during the period. Private Wealth Asset Management LLC’s holdings in L3Harris Technologies were worth $36,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies during the first quarter worth approximately $26,000. Beacon Capital Management LLC increased its position in 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 purchasing an additional 58 shares during the last quarter. Kiker Wealth Management LLC increased its position in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares during the last quarter. Finally, Independence Bank of Kentucky increased its position in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Royal Bank Of Canada upped 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. UBS Group upped their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, Morgan Stanley upped their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $287.63.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $284.28 on Friday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The firm has a fifty day moving average of $282.94 and a 200-day moving average of $254.90. The firm has a market capitalization of $53.19 billion, a P/E ratio of 31.76, a PEG ratio of 2.12 and a beta of 0.76. 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 released its quarterly earnings data 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 net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business earned $3.24 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts predict 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. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

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.