Atria Wealth Solutions Inc. Sells 1,017 Shares of L3Harris Technologies Inc $LHX

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in L3Harris Technologies Inc. by 10.1%, selling 1,017 shares during the second quarter, bringing their stake down to 9,086 shares worth approximately $2.29 million.
• Several analysts have recently raised their price targets for L3Harris Technologies, with Citigroup increasing its target from $300 to $323 and Truist Financial raising theirs from $302 to $353, both maintaining a "buy" rating for the stock.
• L3Harris Technologies has announced a quarterly dividend of $1.20 per share, to be paid on December 5th, with an annualized payout of $4.80, representing a dividend yield of 1.7%.

Atria Wealth Solutions Inc. reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,086 shares of the company's stock after selling 1,017 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in L3Harris Technologies were worth $2,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new position in L3Harris Technologies in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies during the first quarter worth $26,000. Independence Bank of Kentucky boosted 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 worth $33,000 after purchasing an additional 40 shares in the last quarter. Beacon Capital Management LLC boosted 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 worth $27,000 after purchasing an additional 58 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted 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 worth $39,000 after purchasing an additional 139 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LHX shares. Citigroup lifted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Truist Financial lifted their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a "buy" rating in a research report on Wednesday. Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Barclays raised their price objective 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. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $287.63.

L3Harris Technologies Stock Down 3.4%

Shares of LHX stock opened at $289.76 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The firm's fifty day moving average price is $282.73 and its two-hundred day moving average price is $254.39. The firm has a market capitalization of $54.21 billion, a P/E ratio of 32.38, a PEG ratio of 2.19 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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.94% and a return on equity of 11.82%. The company's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's payout ratio is currently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction dated 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 in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is 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.

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