L3Harris Technologies Inc $LHX Position Raised by Wedmont Private Capital

Wedmont Private Capital raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,179 shares of the company’s stock after buying an additional 70 shares during the period. Wedmont Private Capital’s holdings in L3Harris Technologies were worth $305,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of L3Harris Technologies by 1.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,861 shares of the company’s stock worth $5,734,000 after acquiring an additional 418 shares during the last quarter. Focus Financial Network Inc. acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $241,000. Signal Advisors Wealth LLC acquired a new position in L3Harris Technologies in the second quarter worth $506,000. Jackson Square Capital LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth $1,110,000. Finally, Baron Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at $259,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Susquehanna raised their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Citigroup increased their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Robert W. Baird raised their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $279.47.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 195,138 shares of company stock worth $53,571,774 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Up 0.3%

LHX stock opened at $283.67 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock’s 50 day simple moving average is $273.51 and its 200 day simple moving average is $244.49. The company has a market cap of $53.07 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $286.81.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders 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 is 53.63%.

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.