Courier Capital LLC Raises Stake in L3Harris Technologies Inc $LHX

Key Points

• Courier Capital LLC increased its stake in L3Harris Technologies Inc by 82.0%, owning a total of 2,311 shares valued at approximately $580,000 as of the latest reporting period.
• Multiple analysts have upgraded their price targets for L3Harris Technologies, with Citigroup raising it to $323.00, reflecting a broad consensus for a "Moderate Buy" rating.
• The company's quarterly earnings exceeded expectations, reporting $2.78 EPS on revenue of $5.43 billion, marking a year-over-year revenue growth of 2.4%.

Courier Capital LLC boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 82.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,311 shares of the company's stock after acquiring an additional 1,041 shares during the period. Courier Capital LLC's holdings in L3Harris Technologies were worth $580,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies in the first quarter worth about $26,000. Beacon Capital Management LLC raised its holdings in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Kiker Wealth Management LLC raised its holdings in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock worth $27,000 after buying an additional 63 shares during the last quarter. Finally, Independence Bank of Kentucky raised its holdings in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after buying an additional 40 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LHX shares. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. 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, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $278.19.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last three months. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $300.03 on Wednesday. The company has a 50 day moving average price of $282.49 and a 200-day moving average price of $254.14. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The firm has a market capitalization of $56.14 billion, a PE ratio of 33.52, a P/E/G ratio of 2.14 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 announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business posted $3.24 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's payout ratio is 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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