Koshinski Asset Management Inc. Decreases Stake in L3Harris Technologies Inc $LHX

Koshinski Asset Management Inc. lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,460 shares of the company’s stock after selling 228 shares during the quarter. Koshinski Asset Management Inc.’s holdings in L3Harris Technologies were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in L3Harris Technologies by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock worth $2,058,151,000 after acquiring an additional 181,550 shares during the last quarter. Wellington Management Group LLP lifted its stake in L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after acquiring an additional 557,610 shares during the last quarter. Invesco Ltd. lifted its stake in L3Harris Technologies by 5.0% in the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock worth $491,323,000 after acquiring an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after acquiring an additional 311,886 shares during the last quarter. Finally, Nuveen LLC purchased a new position in L3Harris Technologies in the first quarter worth approximately $299,157,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $290.88 on Tuesday. The firm’s fifty day simple moving average is $283.63 and its 200-day simple moving average is $256.66. The stock has a market capitalization of $54.42 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.07 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 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 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis 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 53.63%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LHX shares. UBS Group raised their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Robert W. Baird raised their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Citigroup raised their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Truist Financial raised their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $287.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’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 transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

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.