Alternative Investment Advisors LLC. Invests $1.38 Million in L3Harris Technologies Inc $LHX

Alternative Investment Advisors LLC. purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,509 shares of the company’s stock, valued at approximately $1,382,000. L3Harris Technologies accounts for approximately 0.7% of Alternative Investment Advisors LLC.’s investment portfolio, making the stock its 18th biggest position.

Several other large investors have also recently added to or reduced their stakes in LHX. Thrivent Financial for Lutherans boosted its position in shares of L3Harris Technologies by 2.1% in the second quarter. Thrivent Financial for Lutherans now owns 392,541 shares of the company’s stock valued at $98,455,000 after acquiring an additional 8,028 shares during the period. Cim Investment Management Inc. raised its stake in L3Harris Technologies by 99.7% in the 2nd quarter. Cim Investment Management Inc. now owns 5,271 shares of the company’s stock worth $1,215,000 after purchasing an additional 2,631 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $1,968,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $1,126,000. Finally, Advisory Services Network LLC grew its position in shares of L3Harris Technologies by 17.9% during the 2nd quarter. Advisory Services Network LLC now owns 12,081 shares of the company’s stock worth $3,320,000 after purchasing an additional 1,830 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LHX shares. Truist Financial raised their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. raised their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Finally, Weiss Ratings cut shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 8th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $295.50.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction that occurred on 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 directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Down 1.0%

Shares of NYSE LHX opened at $286.84 on Monday. The company has a 50 day simple moving average of $287.77 and a 200 day simple moving average of $274.62. The firm has a market cap of $53.65 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 2.09 and a beta of 0.65. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95.

L3Harris Technologies (NYSE:LHX) last issued 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. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. L3Harris Technologies’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

L3Harris Technologies Company 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.