BankPlus Trust Department Buys 379 Shares of L3Harris Technologies Inc $LHX

BankPlus Trust Department raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,854 shares of the company’s stock after acquiring an additional 379 shares during the period. BankPlus Trust Department’s holdings in L3Harris Technologies were worth $1,468,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Independence Bank of Kentucky lifted its stake in L3Harris Technologies by 44.4% during the 2nd 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. DB Fitzpatrick & Co Inc raised its stake in shares of L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after purchasing an additional 42 shares during the period. Norway Savings Bank increased its holdings in L3Harris Technologies by 3.0% in the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock worth $374,000 after acquiring an additional 44 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in L3Harris Technologies by 3.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock worth $314,000 after acquiring an additional 45 shares during the last quarter. Finally, BankPlus Wealth Management LLC increased its holdings in L3Harris Technologies by 2.2% in the 2nd quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company’s stock worth $528,000 after acquiring an additional 45 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.5%

NYSE LHX opened at $301.58 on Wednesday. The stock has a market cap of $56.43 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.22 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $305.94. The stock’s fifty day moving average price is $280.33 and its 200-day moving average price is $251.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.82% and a net margin of 7.94%.The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.24 earnings per share. 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 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LHX. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Barclays boosted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. UBS Group boosted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Susquehanna boosted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $279.47.

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.