Axxcess Wealth Management LLC Has $2.15 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Axxcess Wealth Management LLC significantly increased its stake in L3Harris Technologies by 72.2% during the second quarter, bringing its total holdings to 8,561 shares valued at approximately $2.15 million.
• Multiple analysts have recently raised their price targets for L3Harris Technologies, with the consensus price target now standing at $287.63 and several firms issuing a "buy" rating on the stock.
• The company has announced a quarterly dividend of $1.20 per share, with an ex-dividend date set for November 17th, representing an annualized yield of 1.7%.

Axxcess Wealth Management LLC grew its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 72.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,561 shares of the company's stock after buying an additional 3,589 shares during the period. Axxcess Wealth Management LLC's holdings in L3Harris Technologies were worth $2,148,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Cornerstone Wealth Group LLC bought a new position in shares of L3Harris Technologies during the second quarter worth approximately $203,000. NorthRock Partners LLC increased its stake in shares of L3Harris Technologies by 10.3% during the second quarter. NorthRock Partners LLC now owns 1,854 shares of the company's stock worth $465,000 after purchasing an additional 173 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of L3Harris Technologies by 6.3% during the second quarter. Verdence Capital Advisors LLC now owns 1,687 shares of the company's stock worth $423,000 after purchasing an additional 100 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in shares of L3Harris Technologies by 4.6% during the second quarter. Astoria Portfolio Advisors LLC. now owns 1,062 shares of the company's stock worth $290,000 after purchasing an additional 47 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of L3Harris Technologies by 19.3% during the second quarter. Sequoia Financial Advisors LLC now owns 12,011 shares of the company's stock worth $3,013,000 after purchasing an additional 1,946 shares during the period. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Robert W. Baird raised their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada raised 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. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Citigroup boosted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $287.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction 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. The trade was a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $289.76 on Thursday. The business's 50 day simple moving average is $282.73 and its 200 day simple moving average is $254.39. 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 12 month low of $193.09 and a 12 month high of $308.12. The company has a market cap of $54.21 billion, a price-to-earnings 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 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. 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 for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter in the previous year, the firm posted $3.24 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.