Aptus Capital Advisors LLC Acquires 1,794 Shares of L3Harris Technologies Inc $LHX

Key Points

• Aptus Capital Advisors LLC increased its stake in L3Harris Technologies Inc by 14.3% in the first quarter, now holding 14,312 shares worth approximately $2.996 million.
• L3Harris Technologies reported quarterly earnings of $2.78 per share, exceeding expectations, with a revenue of $5.43 billion, up 2.4% year-over-year.
• The company announced its quarterly dividend of $1.20, with an annualized yield of 1.8%, reflecting a dividend payout ratio of 53.63%.

Aptus Capital Advisors LLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,312 shares of the company's stock after purchasing an additional 1,794 shares during the quarter. Aptus Capital Advisors LLC's holdings in L3Harris Technologies were worth $2,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brooklyn Investment Group lifted its position in L3Harris Technologies by 11.8% in the 1st quarter. Brooklyn Investment Group now owns 1,125 shares of the company's stock valued at $235,000 after acquiring an additional 119 shares in the last quarter. Foyston Gordon & Payne Inc lifted its position in L3Harris Technologies by 0.8% in the 1st quarter. Foyston Gordon & Payne Inc now owns 14,548 shares of the company's stock valued at $3,045,000 after acquiring an additional 109 shares in the last quarter. Corient IA LLC bought a new position in L3Harris Technologies in the 1st quarter valued at approximately $314,000. Steward Partners Investment Advisory LLC lifted its position in L3Harris Technologies by 3.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 66,189 shares of the company's stock valued at $13,854,000 after acquiring an additional 1,997 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in L3Harris Technologies by 9.6% in the 1st quarter. Tocqueville Asset Management L.P. now owns 23,360 shares of the company's stock valued at $4,890,000 after acquiring an additional 2,045 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. Robert W. Baird upped their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" 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 research report on Friday. Citigroup upped their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Susquehanna increased their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Finally, Barclays increased their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $0.0450 during midday trading on Monday, hitting $275.8150. The company had a trading volume of 175,746 shares, compared to its average volume of 1,418,967. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $51.60 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52. The company has a fifty day moving average of $263.52 and a two-hundred day moving average of $234.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion during 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%.L3Harris Technologies's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,138 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $39,236,182.56. The trade was a 21.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,199 shares of company stock valued at $39,045,071 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

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.