Alhambra Investment Management LLC acquired a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 929 shares of the company's stock, valued at approximately $233,000.
Several other hedge funds also recently bought and sold shares of the company. DB Fitzpatrick & Co Inc increased its position in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company's stock worth $1,116,000 after purchasing an additional 42 shares during the last quarter. Norway Savings Bank increased its position in L3Harris Technologies by 3.0% in the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company's stock worth $374,000 after purchasing an additional 44 shares during the last quarter. Salem Investment Counselors Inc. increased its position in L3Harris Technologies by 3.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock worth $314,000 after purchasing an additional 45 shares during the last quarter. Transce3nd LLC increased its position in L3Harris Technologies by 7.9% in the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after purchasing an additional 48 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its position in L3Harris Technologies by 3.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after purchasing an additional 50 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
LHX has been the topic of several research reports. Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Barclays upped their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.
Get Our Latest Stock Analysis on LHX
L3Harris Technologies Stock Performance
Shares of NYSE LHX opened at $285.81 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market cap of $53.47 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 2.08 and a beta of 0.76. The business's 50-day simple moving average is $274.44 and its 200-day simple moving average is $245.22. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $288.02.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.
L3Harris Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.
Insider Transactions at L3Harris Technologies
In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company's stock.
About L3Harris Technologies
(
Free Report)
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.
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