Advisory Services Network LLC Acquires 1,830 Shares of L3Harris Technologies Inc $LHX

Advisory Services Network LLC raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,081 shares of the company’s stock after acquiring an additional 1,830 shares during the period. Advisory Services Network LLC’s holdings in L3Harris Technologies were worth $3,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Cyndeo Wealth Partners LLC grew its position in L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after acquiring an additional 37 shares in the last quarter. Fidelis Capital Partners LLC grew its position in L3Harris Technologies by 2.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after acquiring an additional 39 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after purchasing an additional 40 shares during the period. Finally, DB Fitzpatrick & Co Inc increased its stake in shares of L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $282.80 on Wednesday. The company’s 50-day moving average is $287.10 and its 200 day moving average is $275.21. 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. The firm has a market capitalization of $52.90 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 11.08% and a net margin of 8.09%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Analysts Set New Price Targets

A number of analysts have recently commented on LHX shares. UBS Group boosted their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.50.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

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.