Avantax Advisory Services Inc. Buys 1,267 Shares of L3Harris Technologies Inc $LHX

Avantax Advisory Services Inc. boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,723 shares of the company’s stock after acquiring an additional 1,267 shares during the period. Avantax Advisory Services Inc.’s holdings in L3Harris Technologies were worth $5,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Brighton Jones LLC raised its stake in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. IFP Advisors Inc grew its stake in L3Harris Technologies by 166.5% during the first quarter. IFP Advisors Inc now owns 8,337 shares of the company’s stock worth $1,747,000 after buying an additional 5,209 shares in the last quarter. Twin Capital Management Inc. bought a new position in L3Harris Technologies in the 1st quarter valued at about $203,000. J.W. Cole Advisors Inc. increased its holdings in L3Harris Technologies by 103.4% in the 1st quarter. J.W. Cole Advisors Inc. now owns 8,116 shares of the company’s stock valued at $1,699,000 after buying an additional 4,126 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of L3Harris Technologies by 4.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 14,650 shares of the company’s stock valued at $3,067,000 after buying an additional 623 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.8%

NYSE:LHX opened at $285.48 on Wednesday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $53.40 billion, a PE ratio of 31.90, a P/E/G ratio of 2.09 and a beta of 0.75. The firm’s 50 day simple moving average is $290.76 and its 200 day simple moving average is $268.09.

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

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. 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 presently 51.56%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LHX shares. Barclays increased their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Robert W. Baird upped their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, BNP Paribas Exane initiated coverage on L3Harris Technologies in a research report on Tuesday. They issued a “neutral” rating and a $290.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.29.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the company’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 sale, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company 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.