Private Wealth Asset Management LLC Lowers Position in L3Harris Technologies Inc $LHX

Private Wealth Asset Management LLC decreased its position in L3Harris Technologies Inc (NYSE:LHX) by 72.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145 shares of the company’s stock after selling 383 shares during the period. Private Wealth Asset Management LLC’s holdings in L3Harris Technologies were worth $36,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kiker Wealth Management LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 63 shares in the last quarter. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies in the first quarter valued at about $26,000. Independence Bank of Kentucky boosted its holdings 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 valued at $33,000 after acquiring an additional 40 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $284.28 on Friday. 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 has a market cap of $53.19 billion, a P/E ratio of 31.76, a PEG ratio of 2.12 and a beta of 0.76. The company has a 50-day moving average of $282.94 and a two-hundred day moving average of $254.90. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its earnings results 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 company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be given 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 of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is currently 53.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. Royal Bank Of Canada lifted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Robert W. Baird raised their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company 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. Finally, Truist Financial raised their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $287.63.

Insider Buying and Selling at L3Harris Technologies

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 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 owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 over the last ninety days. Insiders own 0.72% of the company’s stock.

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.