Geneos Wealth Management Inc. Purchases 427 Shares of L3Harris Technologies Inc $LHX

Geneos Wealth Management Inc. increased its position in L3Harris Technologies Inc (NYSE:LHX) by 62.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,106 shares of the company’s stock after buying an additional 427 shares during the period. Geneos Wealth Management Inc.’s holdings in L3Harris Technologies were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $26,000. Beacon Capital Management LLC raised its position in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth $37,000. Cornerstone Planning Group LLC boosted its position in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in L3Harris Technologies during the first quarter valued at $39,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LHX. Susquehanna boosted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. UBS Group raised their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Truist Financial lifted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada increased their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.47.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Price Performance

Shares of LHX stock opened at $281.76 on Tuesday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $282.22. The stock has a fifty day simple moving average of $271.59 and a two-hundred day simple moving average of $242.44. The stock has a market capitalization of $52.72 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 2.04 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.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion for 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% on a year-over-year basis. During the same period in the prior year, the business earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

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.