Douglas Lane & Associates LLC Invests $236,000 in L3Harris Technologies Inc $LHX

Key Points

• Douglas Lane & Associates LLC has made a new investment in L3Harris Technologies Inc, purchasing 940 shares valued at approximately $236,000.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, with a yield of 1.7%, to be paid on September 22nd.
• Recent analyst upgrades suggest a positive outlook for the company, with target prices raised by UBS Group and Robert W. Baird, now having an average rating of "Moderate Buy".

Douglas Lane & Associates LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 940 shares of the company's stock, valued at approximately $236,000.

Other hedge funds also recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies in the first quarter valued at about $26,000. Beacon Capital Management LLC raised its position 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 purchasing an additional 58 shares in the last quarter. Park Square Financial Group LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $37,000. Finally, Cornerstone Planning Group LLC boosted 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 in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group lifted their price objective 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 boosted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Finally, Truist Financial raised 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. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Stock Performance

LHX opened at $279.22 on Monday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $281.67. The firm has a market capitalization of $52.24 billion, a PE ratio of 31.20, a PEG ratio of 2.04 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business's 50-day simple moving average is $271.08 and its 200 day simple moving average is $241.91.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's payout ratio is currently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction 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 in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company's stock.

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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