Empowered Funds LLC Acquires 9,821 Shares of L3Harris Technologies Inc $LHX

Empowered Funds LLC lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 47.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,647 shares of the company’s stock after buying an additional 9,821 shares during the quarter. Empowered Funds LLC’s holdings in L3Harris Technologies were worth $7,687,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in L3Harris Technologies by 0.5% in the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after purchasing an additional 121,619 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new position in shares of L3Harris Technologies in the second quarter worth about $218,000. Frank Rimerman Advisors LLC increased its stake in L3Harris Technologies by 3.4% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,327 shares of the company’s stock worth $333,000 after buying an additional 44 shares during the period. Nordwand Advisors LLC bought a new stake in L3Harris Technologies during the 2nd quarter valued at about $5,911,000. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in L3Harris Technologies by 7.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,246 shares of the company’s stock valued at $814,000 after buying an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. BNP Paribas raised L3Harris Technologies to a “hold” rating in a research note on Tuesday. UBS Group lifted their target price on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. upped their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.29.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.0%

L3Harris Technologies stock opened at $285.42 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market cap of $53.39 billion, a P/E ratio of 31.89, a P/E/G ratio of 2.09 and a beta of 0.75. The business has a fifty day moving average of $290.96 and a two-hundred day moving average of $268.21. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share 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 $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

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.