Kingswood Wealth Advisors LLC Boosts Stock Holdings in L3Harris Technologies Inc $LHX

Kingswood Wealth Advisors LLC increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,110 shares of the company’s stock after purchasing an additional 866 shares during the period. Kingswood Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $299,157,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after buying an additional 709,948 shares in the last quarter. Wellington Management Group LLP increased its holdings 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 valued at $1,074,208,000 after buying an additional 557,610 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 valued at $486,898,000 after buying an additional 311,886 shares in the last quarter. Finally, Appaloosa LP purchased a new position in L3Harris Technologies in the first quarter valued at about $62,793,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LHX. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a report on Saturday, September 27th. Royal Bank Of Canada increased their target price 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 increased their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Citigroup increased their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Truist Financial increased their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $279.47.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on 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 owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last quarter. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Down 0.5%

Shares of NYSE LHX opened at $301.58 on Wednesday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $305.94. The firm’s 50 day moving average price is $280.33 and its 200 day moving average price is $251.12. The firm has a market cap of $56.43 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.22 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 (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the business earned $3.24 earnings per share. L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced 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. The ex-dividend date 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 (DPR) is 53.63%.

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.