L3Harris Technologies Inc $LHX Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,827 shares of the company’s stock after selling 14,167 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.06% of L3Harris Technologies worth $36,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. Kiker Wealth Management LLC grew its stake in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at approximately $34,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies during the first quarter worth $26,000. Harbor Asset Planning Inc. acquired a new position in L3Harris Technologies in the second quarter worth $32,000. Finally, Independence Bank of Kentucky boosted its holdings in L3Harris Technologies by 44.4% in 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. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a report on Monday, December 22nd. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. BNP Paribas Exane started coverage on L3Harris Technologies in a report on Tuesday, November 18th. They issued 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 research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $295.50.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $296.69 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month 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 $55.50 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. The business has a 50 day simple moving average of $286.85 and a 200 day simple moving average of $277.69.

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

L3Harris Technologies Announces Dividend

The business 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 1.6%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s dividend payout ratio is currently 51.56%.

L3Harris Technologies Company Profile

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.