Cornerstone Wealth Group LLC Purchases Shares of 810 L3Harris Technologies Inc $LHX

Cornerstone Wealth Group LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 810 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after purchasing an additional 709,948 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after buying an additional 557,610 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after buying an additional 311,886 shares during the last quarter. Finally, Appaloosa LP purchased a new stake in L3Harris Technologies during the 1st quarter valued at $62,793,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. UBS Group raised their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Susquehanna lifted their price target 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. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $287.63.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 over the last ninety days. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $289.76 on Thursday. The company’s fifty day moving average price is $282.73 and its 200-day moving average price is $254.39. The stock has a market cap of $54.21 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.19 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the business posted $3.24 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

L3Harris Technologies 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.