Deroy & Devereaux Private Investment Counsel Inc. Increases Stock Position in L3Harris Technologies Inc $LHX

Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,880 shares of the company’s stock after purchasing an additional 50 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $19,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position 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 acquiring an additional 58 shares in the last quarter. Kiker Wealth Management LLC raised its stake in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Finally, 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 acquiring an additional 40 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 2.3%

Shares of L3Harris Technologies stock opened at $300.03 on Wednesday. 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 Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 2.14 and a beta of 0.76. The company’s 50 day moving average price is $282.49 and its 200-day moving average price is $254.14.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for 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 period in the previous year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be 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 is Monday, November 17th. L3Harris Technologies’s payout ratio is presently 53.63%.

Analyst Ratings Changes

Several research analysts have commented on LHX shares. Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Truist Financial raised their target price 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. Finally, Robert W. Baird raised their target price 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. Thirteen 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, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $278.19.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies 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 transaction, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

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.