AssuredPartners Investment Advisors LLC Buys 1,486 Shares of L3Harris Technologies Inc $LHX

Key Points

• AssuredPartners Investment Advisors LLC increased its stake in L3Harris Technologies Inc by 8.8%, acquiring an additional 1,486 shares to hold a total of 18,431 shares, valued at approximately $4.6 million.
• A recent upgrade from Wall Street Zen has changed the rating of L3Harris Technologies from "hold" to "buy," with analysts setting a consensus target price of $287.63 for the stock.
• The company's CEO, Christopher E. Kubasik, sold 83,000 shares recently, indicating a 36.31% decrease in his ownership, amounting to over $23 million in total sales.

AssuredPartners Investment Advisors LLC boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,431 shares of the company's stock after buying an additional 1,486 shares during the quarter. L3Harris Technologies makes up approximately 1.1% of AssuredPartners Investment Advisors LLC's portfolio, making the stock its 27th largest holding. AssuredPartners Investment Advisors LLC's holdings in L3Harris Technologies were worth $4,623,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LHX. Nuveen LLC bought a new position in L3Harris Technologies during the first quarter worth about $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its position in L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after purchasing an additional 709,948 shares during the period. Wellington Management Group LLP boosted its position in L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after purchasing an additional 557,610 shares during the period. Allspring Global Investments Holdings LLC boosted its position in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after purchasing an additional 311,886 shares during the period. Finally, Appaloosa LP bought a new position in L3Harris Technologies during the first quarter worth about $62,793,000. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LHX shares. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Susquehanna increased their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Barclays increased their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $287.63.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies 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 transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 195,138 shares of company stock worth $53,571,774 over the last quarter. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Down 1.9%

Shares of L3Harris Technologies stock opened at $284.28 on Friday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The firm has a market cap of $53.19 billion, a PE ratio of 31.76, a PEG ratio of 2.12 and a beta of 0.76. 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 50 day simple moving average of $282.94 and a two-hundred day simple moving average of $254.90.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business posted $3.24 earnings per share. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. 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 declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

About L3Harris Technologies

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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