L3Harris Technologies Inc $LHX Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 44.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127 shares of the company’s stock after selling 101 shares during the period. Bruce G. Allen Investments LLC’s holdings in L3Harris Technologies were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Beacon Capital Management LLC lifted 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 purchasing an additional 58 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $37,000. Finally, Cornerstone Planning Group LLC grew its holdings in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.9%

NYSE:LHX opened at $281.57 on Thursday. The stock has a market cap of $52.68 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $286.81. The business has a fifty day moving average of $272.58 and a 200-day moving average of $243.00.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share 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 revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LHX shares. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Truist Financial increased their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Susquehanna raised their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Finally, Robert W. Baird upped their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $279.47.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 195,138 shares of company stock worth $53,571,774 over the last quarter. 0.72% of the stock is owned by insiders.

L3Harris Technologies 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.