B. Riley Wealth Advisors Inc. Makes New $1.13 Million Investment in L3Harris Technologies Inc $LHX

B. Riley Wealth Advisors Inc. purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,490 shares of the company’s stock, valued at approximately $1,126,000.

A number of other hedge funds have also recently modified their holdings of the company. Gold Investment Management Ltd. grew its stake 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 buying an additional 904 shares in the last quarter. BankPlus Trust Department grew its position in L3Harris Technologies by 6.9% in the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after acquiring an additional 379 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after purchasing an additional 33,019 shares during the period. US Bancorp DE lifted its position in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after purchasing an additional 5,526 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of L3Harris Technologies in the second quarter valued at approximately $1,218,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.5%

Shares of LHX opened at $288.30 on Tuesday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The firm has a market capitalization of $53.93 billion, a P/E ratio of 30.97, a PEG ratio of 2.09 and a beta of 0.65. The firm’s 50-day moving average is $287.47 and its two-hundred day moving average is $274.94. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal 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 issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 target price on the stock. Finally, BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.50.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

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.