Baron Wealth Management LLC Takes $259,000 Position in L3Harris Technologies Inc $LHX

Key Points

• Baron Wealth Management LLC invested $259,000 in L3Harris Technologies, acquiring 1,032 shares in a new position during the second quarter.
• CEO Christopher E. Kubasik sold 83,000 shares of the company's stock for approximately $23.2 million, representing a significant reduction in his holdings.
• L3Harris Technologies recently declared a quarterly dividend of $1.20, with an annualized dividend yield of 1.7% and a payout ratio of 53.63%.

Baron Wealth Management LLC acquired a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,032 shares of the company's stock, valued at approximately $259,000.

Other institutional investors also recently bought and sold shares of the company. Norway Savings Bank boosted its stake in L3Harris Technologies by 3.0% during the second quarter. Norway Savings Bank now owns 1,490 shares of the company's stock valued at $374,000 after buying an additional 44 shares during the period. Salem Investment Counselors Inc. increased its position in shares of L3Harris Technologies by 3.7% during the second quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock worth $314,000 after acquiring an additional 45 shares during the period. Transce3nd LLC grew its holdings in shares of L3Harris Technologies by 7.9% during the first quarter. Transce3nd LLC now owns 652 shares of the company's stock valued at $137,000 after buying an additional 48 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in L3Harris Technologies by 3.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after acquiring an additional 50 shares in the last quarter. Finally, Bard Financial Services Inc. lifted its holdings in L3Harris Technologies by 1.0% during the 2nd quarter. Bard Financial Services Inc. now owns 4,950 shares of the company's stock worth $1,242,000 after buying an additional 50 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LHX has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Robert W. Baird upped their target price on shares of 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 report on Friday, August 22nd. Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Finally, Truist Financial boosted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX traded up $0.94 during midday trading on Friday, hitting $283.67. The company had a trading volume of 1,316,030 shares, compared to its average volume of 953,881. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $286.81. The company has a market capitalization of $53.07 billion, a PE ratio of 31.70, a P/E/G ratio of 2.08 and a beta of 0.76. The firm's 50-day simple moving average is $273.51 and its 200-day simple moving average is $244.27.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the firm earned $3.24 earnings per share. The business'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. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is 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.