Apollon Wealth Management LLC Grows Position in L3Harris Technologies Inc $LHX

Key Points

• Apollon Wealth Management LLC has increased its stake in L3Harris Technologies by 7.4%, owning 20,710 shares valued at approximately $5.2 million.
• CEO Christopher E. Kubasik sold 83,000 shares of L3Harris stock, a 36.31% decrease in his position, totaling a transaction value of $23.2 million.
• Wall Street analysts maintain a moderate outlook on L3Harris Technologies, with an average target price of $278.19 and a mix of 13 buy and 5 hold ratings from various investment firms.

Apollon Wealth Management LLC raised its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,710 shares of the company's stock after buying an additional 1,426 shares during the quarter. Apollon Wealth Management LLC's holdings in L3Harris Technologies were worth $5,195,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies during the first quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the first quarter valued at about $26,000. Independence Bank of Kentucky lifted its position in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock valued at $33,000 after buying an additional 40 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after buying an additional 139 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on LHX shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Wednesday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday. Susquehanna increased their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $278.19.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $292.45 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company's 50 day moving average is $281.74 and its 200 day moving average is $252.94. 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 $54.72 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

L3Harris Technologies Company 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.

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