Salvus Wealth Management LLC Takes $232,000 Position in L3Harris Technologies Inc $LHX

Key Points

• Salvus Wealth Management LLC acquired 926 shares of L3Harris Technologies, valued at approximately $232,000, as part of their new position disclosed in a recent SEC filing.
• CEO Christopher E. Kubasik sold 83,000 shares of the company's stock for about $23.2 million, reducing his ownership by 36.31% to approximately 145,578 shares.
• L3Harris Technologies recently declared a quarterly dividend of $1.20 per share, with a yield of 1.7% and a payout ratio of 53.63%.

Salvus Wealth Management LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 926 shares of the company's stock, valued at approximately $232,000.

A number of other hedge funds have also recently modified their holdings of the business. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies in the first quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Park Square Financial Group LLC bought a new position in L3Harris Technologies during the 4th quarter worth about $37,000. Finally, Cornerstone Planning Group LLC increased its position in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after purchasing an additional 139 shares during the period. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LHX shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. UBS Group increased their target price on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Truist Financial boosted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, Citigroup boosted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Trading Up 0.1%

NYSE:LHX traded up $0.40 during trading hours on Monday, hitting $284.34. The company had a trading volume of 785,435 shares, compared to its average volume of 981,935. The company has a 50-day moving average of $273.95 and a 200 day moving average of $244.93. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market cap of $53.20 billion, a P/E ratio of 31.77, a P/E/G ratio of 2.08 and a beta of 0.76. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $286.81.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Profile

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.