NorthRock Partners LLC Has $465,000 Holdings in L3Harris Technologies Inc $LHX

NorthRock Partners LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,854 shares of the company’s stock after purchasing an additional 173 shares during the quarter. NorthRock Partners LLC’s holdings in L3Harris Technologies were worth $465,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LHX. Clearstead Trust LLC acquired a new position in L3Harris Technologies during the first quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies during the first quarter worth about $26,000. Beacon Capital Management LLC raised its holdings in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Independence Bank of Kentucky lifted its position 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 acquiring an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in L3Harris Technologies by 323.3% during 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. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value 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 $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 195,138 shares of company stock valued at $53,571,774 over the last three months. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on LHX shares. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Susquehanna raised their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.63.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $289.76 on Thursday. The company has a market capitalization of $54.21 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.19 and a beta of 0.76. The company’s 50-day moving average is $282.73 and its 200 day moving average is $254.39. 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 fifty-two week low of $193.09 and a fifty-two week high of $308.12.

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

L3Harris Technologies Dividend Announcement

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

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.