Cypress Wealth Services LLC Makes New $228,000 Investment in L3Harris Technologies Inc $LHX

Key Points

• Cypress Wealth Services LLC made a new investment of $228,000 in L3Harris Technologies, acquiring 910 shares in the second quarter.
• CEO Christopher E. Kubasik sold 83,000 shares for over $23 million, a 36.31% reduction in his ownership, while insiders have collectively sold a total of 195,138 shares worth $53.5 million in the last quarter.
• Analysts maintain a consensus rating of “Moderate Buy” for L3Harris Technologies, with a price target adjusted to $278.19 following various revisions by notable financial institutions.

Cypress Wealth Services LLC acquired a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 910 shares of the company's stock, valued at approximately $228,000.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in L3Harris Technologies by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company's stock valued at $2,058,151,000 after buying an additional 181,550 shares during the period. Wellington Management Group LLP lifted its stake in shares of L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after buying an additional 557,610 shares during the period. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 5.0% during the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company's stock worth $491,323,000 after buying an additional 112,271 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after buying an additional 311,886 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of L3Harris Technologies during the first quarter worth $299,157,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 over the last quarter. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Royal Bank Of Canada upped their price objective 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. Barclays upped their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Robert W. Baird increased their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $278.19.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $300.03 on Wednesday. The company's fifty day moving average price is $282.49 and its 200 day moving average price is $254.14. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $56.14 billion, a P/E ratio of 33.52, a P/E/G ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies's payout ratio is presently 53.63%.

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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