L3Harris Technologies Inc $LHX Shares Purchased by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,275 shares of the company’s stock after purchasing an additional 1,755 shares during the quarter. L3Harris Technologies makes up 2.6% of Glass Wealth Management Co LLC’s portfolio, making the stock its 11th biggest holding. Glass Wealth Management Co LLC’s holdings in L3Harris Technologies were worth $5,887,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares during the last quarter. Amundi lifted its holdings in shares of L3Harris Technologies by 33.9% in the first quarter. Amundi now owns 104,530 shares of the company’s stock valued at $21,945,000 after purchasing an additional 26,453 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 19.2% in the first quarter. AQR Capital Management LLC now owns 243,346 shares of the company’s stock valued at $50,935,000 after purchasing an additional 39,170 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of L3Harris Technologies by 0.8% in the first quarter. Alliancebernstein L.P. now owns 395,484 shares of the company’s stock valued at $82,779,000 after purchasing an additional 3,220 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of L3Harris Technologies by 3.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,750 shares of the company’s stock worth $994,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LHX. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Citigroup started coverage on L3Harris Technologies in a research note on Thursday, December 11th. They set a “buy” rating and a $331.00 price objective on the stock. 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 research note on Friday, October 31st. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, BNP Paribas Exane began coverage on shares of L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.93.

L3Harris Technologies Stock Up 3.7%

LHX opened at $304.29 on Monday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The business has a 50-day moving average of $287.32 and a two-hundred day moving average of $279.52. 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 stock has a market capitalization of $56.92 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.66.

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 the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company earned $3.34 earnings per share. The company’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, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current 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 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 payout ratio is currently 51.56%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the 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 transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies 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.