L3Harris Technologies Inc $LHX Stake Raised by Atria Investments Inc

Atria Investments Inc lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 7.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,512 shares of the company’s stock after acquiring an additional 685 shares during the period. Atria Investments Inc’s holdings in L3Harris Technologies were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Cyndeo Wealth Partners LLC grew its stake in shares of L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after purchasing an additional 37 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in 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 purchasing an additional 40 shares during the period. DB Fitzpatrick & Co Inc grew its position in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after buying an additional 42 shares in the last quarter. Riverbend Wealth Management LLC increased its stake in L3Harris Technologies by 4.3% during the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock valued at $258,000 after buying an additional 42 shares during the period. Finally, Klingman & Associates LLC raised its position in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock worth $498,000 after buying an additional 42 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LHX shares. Truist Financial increased their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reissued 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 report on Wednesday, October 8th. Finally, Morgan Stanley lifted their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.31.

L3Harris Technologies Trading Down 0.2%

NYSE:LHX opened at $288.58 on Tuesday. The stock has a fifty day simple moving average of $287.17 and a 200 day simple moving average of $262.40. The firm has a market capitalization of $53.99 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $3.34 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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 of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Insiders Place Their Bets

In other L3Harris Technologies 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 sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.