Capital Analysts LLC Purchases 3,300 Shares of L3Harris Technologies Inc $LHX

Key Points

• Capital Analysts LLC increased its holdings in L3Harris Technologies by 7.4% during Q1, buying an additional 3,300 shares, bringing their total to 47,810 shares valued at approximately $10 million.
• In Q1, other institutional investors also boosted their positions in L3Harris Technologies, with Wellington Management Group increasing its share count by 12.2% and Allspring Global Investments by 15.5%.
• L3Harris Technologies recently announced a $1.20 quarterly dividend, with a payout ratio of 53.63%, and holds a consensus rating of "Moderate Buy" among analysts.

Capital Analysts LLC boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,810 shares of the company's stock after purchasing an additional 3,300 shares during the period. Capital Analysts LLC's holdings in L3Harris Technologies were worth $10,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Clearstead Trust LLC purchased a new position in L3Harris Technologies during the 1st quarter worth approximately $26,000. Beacon Capital Management LLC grew its position in 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 purchasing an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares in the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies during the 4th quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC grew its position 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. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.3%

NYSE:LHX traded down $0.7820 during trading hours on Friday, reaching $275.3280. The company's stock had a trading volume of 754,919 shares, compared to its average volume of 1,213,427. The company has a market cap of $51.51 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The business's 50-day moving average is $263.52 and its 200-day moving average is $233.71. 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 issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.24 earnings per share. 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 year.

L3Harris Technologies Announces Dividend

The firm 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 $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,236,182.56. This represents a 21.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,199 shares of company stock valued at $39,045,071 over the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup upped their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. UBS Group upped their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Susquehanna upped their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

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.