ARS Investment Partners LLC Has $2.45 Million Stake in L3Harris Technologies Inc $LHX

ARS Investment Partners LLC cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 86.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,746 shares of the company’s stock after selling 60,970 shares during the period. ARS Investment Partners LLC’s holdings in L3Harris Technologies were worth $2,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Gold Investment Management Ltd. raised its holdings in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after purchasing an additional 904 shares during the last quarter. BankPlus Trust Department increased its stake in shares of L3Harris Technologies by 6.9% during the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after purchasing an additional 379 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after acquiring an additional 33,019 shares during the period. US Bancorp DE lifted its stake in shares of L3Harris Technologies by 1.6% during the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after buying an additional 5,526 shares during the last quarter. Finally, Dean Capital Management lifted its position in L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after acquiring an additional 986 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly 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 SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $285.48 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The company has a 50 day simple moving average of $290.76 and a two-hundred day simple moving average of $268.09. The company has a market capitalization of $53.40 billion, a PE ratio of 31.90, a P/E/G ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $3.34 earnings per share. L3Harris Technologies’s revenue for the quarter was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders 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 annualized dividend and a yield of 1.7%. L3Harris Technologies’s payout ratio is 51.56%.

Analysts Set New Price Targets

LHX has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of L3Harris Technologies in a research report on Thursday, November 13th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.29.

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.