Pure Financial Advisors LLC Grows Holdings in L3Harris Technologies Inc $LHX

Pure Financial Advisors LLC increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,586 shares of the company’s stock after buying an additional 182 shares during the period. Pure Financial Advisors LLC’s holdings in L3Harris Technologies were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in L3Harris Technologies by 1.9% during the 1st 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 in the last quarter. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 12.2% during the 1st 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 in the last quarter. Invesco Ltd. grew its holdings in L3Harris Technologies by 5.0% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 15.5% during the 1st 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 in the last quarter. Finally, Nuveen LLC acquired a new position in L3Harris Technologies during the 1st quarter worth $299,157,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on LHX shares. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a report on Saturday, September 27th. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Truist Financial lifted 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. Fourteen 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 an average target price of $279.47.

L3Harris Technologies Trading Up 0.5%

Shares of NYSE:LHX opened at $297.52 on Friday. The company has a market cap of $55.67 billion, a PE ratio of 33.24, a P/E/G ratio of 2.17 and a beta of 0.76. The company’s 50-day moving average price is $279.07 and its 200 day moving average price is $249.57. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $305.94. 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 issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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