Applied Finance Capital Management LLC Takes Position in L3Harris Technologies Inc $LHX

Applied Finance Capital Management LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,349 shares of the company’s stock, valued at approximately $1,091,000.

A number of other hedge funds also recently made changes to their positions in LHX. Kiker Wealth Management LLC increased its stake in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies in the first quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies in the first quarter worth $26,000. Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies in the second quarter worth $32,000. Finally, Independence Bank of Kentucky increased its stake in shares of L3Harris Technologies by 44.4% in 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. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other 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 of the company’s stock, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 over the last three months. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Truist Financial lifted their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $287.63.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $284.28 on Friday. The company has a market cap of $53.19 billion, a PE ratio of 31.76, a P/E/G ratio of 2.12 and a beta of 0.76. The company has a fifty day moving average price of $282.94 and a two-hundred day moving average price of $254.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The firm 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 revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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 of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is 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.