L3Harris Technologies Inc $LHX Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 25.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,995 shares of the company’s stock after acquiring an additional 5,285 shares during the quarter. Apollon Wealth Management LLC’s holdings in L3Harris Technologies were worth $7,939,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in L3Harris Technologies by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after purchasing an additional 121,619 shares during the period. State Street Corp boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 38,820 shares during the period. Bank of New York Mellon Corp raised its position in L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after acquiring an additional 1,413,833 shares in the last quarter. Finally, Boston Partners lifted its holdings in L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after acquiring an additional 838,546 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LHX. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. UBS Group upped their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Citigroup initiated coverage on shares of L3Harris Technologies in a report on Thursday, December 11th. They issued a “buy” rating and a $331.00 target price for the company. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $295.50.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.5%

LHX opened at $296.69 on Friday. The firm has a market cap of $55.50 billion, a P/E ratio of 31.87, a PEG ratio of 2.16 and a beta of 0.65. The business’s fifty day simple moving average is $286.85 and its 200 day simple moving average is $277.69. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

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, beating analysts’ consensus estimates of $2.60 by $0.10. The company 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 firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 17th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.