1,900 Shares in L3Harris Technologies Inc $LHX Acquired by Blue Rock Wealth Management LLC

Key Points

• Blue Rock Wealth Management LLC recently acquired a new stake in L3Harris Technologies, purchasing 1,900 shares worth approximately $398,000.
• Overall, 84.76% of L3Harris Technologies' stock is owned by institutional investors, with notable increases in holdings from firms like Nuveen LLC and Caisse DE Depot ET Placement DU Quebec during the first quarter.
• Analysts have upgraded their price targets for L3Harris Technologies, with a consensus target of $279.47 and ratings reflecting a strong Buy sentiment among thirteen analysts.

Blue Rock Wealth Management LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,900 shares of the company's stock, valued at approximately $398,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LHX. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies during the 1st quarter worth $26,000. Beacon Capital Management LLC grew its stake in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth $37,000. Cornerstone Planning Group LLC lifted its holdings in L3Harris Technologies by 323.3% during the 1st 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. Finally, WPG Advisers LLC purchased a new stake in L3Harris Technologies during the 1st quarter worth about $39,000. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $1.82 on Monday, hitting $281.02. The company's stock had a trading volume of 264,718 shares, compared to its average volume of 1,390,497. The company has a 50-day simple moving average of $271.08 and a 200 day simple moving average of $241.91. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $282.22. The company has a market capitalization of $52.58 billion, a PE ratio of 31.41, a PEG ratio of 2.04 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter last year, the firm posted $3.24 EPS. The company's revenue 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 fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" 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, Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

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.