IFP Advisors Inc Sells 4,702 Shares of L3Harris Technologies Inc $LHX

IFP Advisors Inc trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 56.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,635 shares of the company’s stock after selling 4,702 shares during the quarter. IFP Advisors Inc’s holdings in L3Harris Technologies were worth $912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Beacon Capital Management LLC raised its stake in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after buying an additional 139 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the 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. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 ninety days. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of recent research reports. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Susquehanna boosted their price objective 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Citigroup boosted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.19.

L3Harris Technologies Stock Up 0.4%

L3Harris Technologies stock opened at $293.44 on Tuesday. The stock has a market capitalization of $54.90 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $282.05 and a 200-day moving average of $253.82.

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 the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s payout ratio 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.