L3Harris Technologies Inc $LHX Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC reduced its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,762 shares of the company’s stock after selling 165 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in L3Harris Technologies were worth $693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Johnson Investment Counsel Inc. boosted its position in shares of L3Harris Technologies by 22.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 3,621 shares of the company’s stock worth $908,000 after acquiring an additional 674 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of L3Harris Technologies by 7.4% during the 2nd quarter. Apollon Wealth Management LLC now owns 20,710 shares of the company’s stock worth $5,195,000 after acquiring an additional 1,426 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth about $97,000. Aberdeen Group plc boosted its position in shares of L3Harris Technologies by 29.6% during the 2nd quarter. Aberdeen Group plc now owns 29,787 shares of the company’s stock worth $7,472,000 after acquiring an additional 6,803 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth about $215,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays upped their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Truist Financial upped their target price 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 upped their target price 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Down 1.9%

L3Harris Technologies stock opened at $292.45 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The stock has a 50 day moving average of $281.74 and a two-hundred day moving average of $252.94. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period last year, the firm earned $3.24 EPS. 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. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 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.