CHICAGO TRUST Co NA Purchases 1,979 Shares of L3Harris Technologies Inc $LHX

Key Points

• CHICAGO TRUST Co NA significantly increased its holdings in L3Harris Technologies Inc by purchasing 1,979 shares, raising their ownership by 79.3% to a total of 4,476 shares valued at approximately $1.12 million.
• Multiple analysts have raised their price targets for L3Harris, with Robert W. Baird increasing it from $274 to $320, indicating strong market confidence in the stock's performance.
• L3Harris Technologies recently announced a quarterly dividend of $1.20 per share, representing an annualized dividend yield of 1.7%, highlighting the company's commitment to returning value to shareholders.

CHICAGO TRUST Co NA increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 79.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,476 shares of the company's stock after acquiring an additional 1,979 shares during the period. CHICAGO TRUST Co NA's holdings in L3Harris Technologies were worth $1,123,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LHX. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies during the first quarter valued at about $26,000. Beacon Capital Management LLC grew its holdings in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the period. Park Square Financial Group LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC grew its holdings in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after purchasing an additional 139 shares during the period. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on LHX shares. UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Robert W. Baird upped 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. Truist Financial upped their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays upped their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Susquehanna upped their price objective on 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 assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company'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 owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 195,138 shares of company stock worth $53,571,774 over the last quarter. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 0.1%

LHX opened at $284.34 on Tuesday. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 2.08 and a beta of 0.76. The stock's 50 day moving average price is $273.95 and its 200-day moving average price is $244.93. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $286.81. 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 (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities 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 was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.20 per share. 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 1.7%. L3Harris Technologies's dividend payout ratio is currently 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.

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