Belpointe Asset Management LLC Has $835,000 Holdings in L3Harris Technologies Inc $LHX

Belpointe Asset Management LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 37.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,327 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Belpointe Asset Management LLC’s holdings in L3Harris Technologies were worth $835,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Asset Planning Services Inc. LA ADV increased its position in shares of L3Harris Technologies by 0.3% during the second quarter. Asset Planning Services Inc. LA ADV now owns 23,385 shares of the company’s stock worth $5,866,000 after buying an additional 75 shares during the period. Valeo Financial Advisors LLC increased its position in shares of L3Harris Technologies by 16.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,964 shares of the company’s stock worth $493,000 after buying an additional 277 shares during the period. Glass Wealth Management Co LLC increased its position in shares of L3Harris Technologies by 1.1% during the second quarter. Glass Wealth Management Co LLC now owns 17,520 shares of the company’s stock worth $4,395,000 after buying an additional 195 shares during the period. Grimes & Company Inc. grew its holdings in L3Harris Technologies by 6.2% in the second quarter. Grimes & Company Inc. now owns 1,311 shares of the company’s stock worth $329,000 after purchasing an additional 77 shares during the period. Finally, Keudell Morrison Wealth Management grew its holdings in L3Harris Technologies by 2.5% in the second quarter. Keudell Morrison Wealth Management now owns 4,504 shares of the company’s stock worth $1,130,000 after purchasing an additional 108 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LHX shares. Robert W. Baird raised their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Truist Financial raised their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

L3Harris Technologies Stock Up 1.8%

LHX opened at $306.83 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company’s 50-day moving average is $280.99 and its 200 day moving average is $251.50. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $306.83. The firm has a market capitalization of $57.41 billion, a P/E ratio of 34.28, a PEG ratio of 2.20 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the firm earned $3.24 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 over the last 90 days. Insiders own 0.72% of the company’s stock.

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.