L3Harris Technologies Inc $LHX Stock Position Lowered by Stack Financial Management Inc

Stack Financial Management Inc lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 144,821 shares of the company’s stock after selling 2,469 shares during the quarter. L3Harris Technologies comprises about 3.2% of Stack Financial Management Inc’s holdings, making the stock its 7th largest position. Stack Financial Management Inc’s holdings in L3Harris Technologies were worth $36,327,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC raised its position in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Independence Bank of Kentucky increased its holdings in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $292.45 on Monday. The company has a fifty day simple moving average of $281.74 and a two-hundred day simple moving average of $253.22. The company has a market cap of $54.72 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. 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 Inc has a 52 week low of $193.09 and a 52 week high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion during 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%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a report on Friday, July 25th. Truist Financial lifted their target price 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Royal Bank Of Canada lifted 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. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $278.19.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 145,578 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last three months. 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.