Fragasso Financial Advisors Inc Has $3.26 Million Position in L3Harris Technologies Inc $LHX

Fragasso Financial Advisors Inc cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,966 shares of the company’s stock after selling 1,804 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in L3Harris Technologies were worth $3,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after purchasing an additional 121,619 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in L3Harris Technologies by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after purchasing an additional 181,550 shares during the last quarter. State Street Corp lifted its stake in L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after buying an additional 105,402 shares during the period. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after buying an additional 38,820 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 2.0%

LHX opened at $282.80 on Wednesday. The stock has a market capitalization of $52.90 billion, a P/E ratio of 30.38, a P/E/G ratio of 2.10 and a beta of 0.65. 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 Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The firm’s fifty day simple moving average is $287.10 and its 200 day simple moving average is $275.21.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LHX shares. UBS Group increased their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. BNP Paribas Exane began coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. 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. Finally, JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.50.

Insider Buying and Selling

In other L3Harris Technologies 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 transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.