Blair William & Co. IL Has $4.41 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Blair William & Co. IL reduced its stake in L3Harris Technologies Inc by 23.3%, now holding 17,571 shares valued at approximately $4.41 million.
• CEO Christopher E. Kubasik sold 83,000 shares of the company stock for over $23 million, resulting in a 36.31% decrease in their ownership.
• L3Harris reported a Q2 earnings per share (EPS) of $2.78, exceeding estimates, and set guidance for FY 2025 EPS between $10.400-10.600.

Blair William & Co. IL trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 23.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,571 shares of the company's stock after selling 5,331 shares during the period. Blair William & Co. IL's holdings in L3Harris Technologies were worth $4,408,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in L3Harris Technologies by 9.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 525 shares of the company's stock valued at $132,000 after buying an additional 46 shares during the last quarter. Leo Wealth LLC bought a new position in L3Harris Technologies during the second quarter worth about $292,000. US Bancorp DE lifted its holdings in L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company's stock worth $86,317,000 after acquiring an additional 5,526 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in L3Harris Technologies by 2.4% during the second quarter. Tectonic Advisors LLC now owns 2,682 shares of the company's stock worth $673,000 after acquiring an additional 62 shares in the last quarter. Finally, Columbus Macro LLC raised its stake in shares of L3Harris Technologies by 8.4% in the 2nd quarter. Columbus Macro LLC now owns 25,250 shares of the company's stock valued at $6,334,000 after purchasing an additional 1,952 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated 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 approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last 90 days. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $292.45 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock's 50-day simple moving average is $281.74 and its 200 day simple moving average is $253.22. The company has a market cap of $54.72 billion, a P/E ratio of 32.68, a P/E/G ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's payout ratio is currently 53.63%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Susquehanna lifted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. UBS Group lifted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $278.19.

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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