L3Harris Technologies Inc $LHX Shares Sold by BKM Wealth Management LLC

BKM Wealth Management LLC lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,284 shares of the company’s stock after selling 98 shares during the period. BKM Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. Brighton Jones LLC raised its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $216,000. CWA Asset Management Group LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $238,000. ORG Wealth Partners LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $42,000. Finally, Blue Trust Inc. raised its position in shares of L3Harris Technologies by 10.7% during the 1st quarter. Blue Trust Inc. now owns 4,752 shares of the company’s stock worth $995,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Morgan Stanley lifted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.

L3Harris Technologies Trading Down 0.1%

NYSE:LHX opened at $283.89 on Friday. The firm has a market cap of $53.12 billion, a P/E ratio of 31.72, a PEG ratio of 2.07 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. The stock’s 50 day simple moving average is $283.22 and its 200-day simple moving average is $255.72. 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 earnings results 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 analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. 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. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last quarter. Insiders own 0.72% of the company’s stock.

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.