Consolidated Portfolio Review Corp Acquires New Holdings in L3Harris Technologies Inc $LHX

Key Points

• Consolidated Portfolio Review Corp acquired a new stake in L3Harris Technologies, purchasing 925 shares valued at approximately $232,000 during the 2nd quarter.
• L3Harris Technologies reported $2.78 earnings per share for the quarter, exceeding analyst expectations with a revenue of $5.43 billion, which was also above forecasts.
• The company recently announced a quarterly dividend of $1.20, resulting in an annualized dividend yield of 1.6% for shareholders.

Consolidated Portfolio Review Corp bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 925 shares of the company's stock, valued at approximately $232,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. LBP AM SA purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $8,252,000. Victrix Investment Advisors increased its position in L3Harris Technologies by 11.2% during the second quarter. Victrix Investment Advisors now owns 2,297 shares of the company's stock worth $576,000 after buying an additional 232 shares in the last quarter. Truist Financial Corp raised its holdings in shares of L3Harris Technologies by 5.0% in the second quarter. Truist Financial Corp now owns 130,680 shares of the company's stock worth $32,780,000 after acquiring an additional 6,279 shares during the last quarter. Trivium Point Advisory LLC lifted its position in shares of L3Harris Technologies by 8.7% in the second quarter. Trivium Point Advisory LLC now owns 2,320 shares of the company's stock valued at $582,000 after acquiring an additional 186 shares in the last quarter. Finally, HCR Wealth Advisors boosted its stake in shares of L3Harris Technologies by 1.3% during the second quarter. HCR Wealth Advisors now owns 12,281 shares of the company's stock valued at $3,081,000 after acquiring an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Down 1.5%

Shares of LHX opened at $295.95 on Friday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $305.94. The company's fifty day moving average is $278.50 and its two-hundred day moving average is $248.98. The firm has a market cap of $55.37 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $3.24 EPS. 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. Analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Citigroup upped their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, UBS Group raised their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report 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's stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average 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.

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