L3Harris Technologies Inc $LHX Shares Purchased by HCR Wealth Advisors

HCR Wealth Advisors increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.3% in the second quarter, HoldingsChannel reports. The firm owned 12,281 shares of the company’s stock after acquiring an additional 159 shares during the quarter. HCR Wealth Advisors’ holdings in L3Harris Technologies were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new position in L3Harris Technologies during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the first quarter valued at approximately $26,000. Beacon Capital Management LLC raised 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 valued at $27,000 after acquiring an additional 58 shares in the last quarter. Independence Bank of Kentucky raised 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 valued at $33,000 after acquiring an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LHX. Barclays lifted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Truist Financial boosted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Citigroup boosted their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Stock Up 1.1%

Shares of LHX opened at $296.88 on Tuesday. 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 one year low of $193.09 and a one year high of $298.40. The stock has a market capitalization of $55.55 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.15 and a beta of 0.76. The stock has a 50 day moving average price of $276.58 and a 200 day moving average price of $247.64.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 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 firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the business earned $3.24 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’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 transaction 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 approximately $40,747,282.20. The trade was 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 the SEC website. Insiders sold 195,138 shares of company stock worth $53,571,774 in the last three months. 0.72% of the stock is currently owned by insiders.

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.