EntryPoint Capital LLC Acquires 1,522 Shares of L3Harris Technologies Inc $LHX

Key Points

• EntryPoint Capital LLC significantly increased its holdings in L3Harris Technologies by 96.4% in Q1, now owning shares valued at $649,000.
• Insider transactions revealed that Edward J. Zoiss and CEO Christopher E. Kubasik sold shares totaling $11.3 million and $490,000 respectively, indicating a decrease in their ownership stakes.
• L3Harris Technologies recently announced a quarterly dividend of $1.20 per share, with an annualized yield of 1.8%, set to be paid on September 22nd.

EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 96.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,101 shares of the company's stock after purchasing an additional 1,522 shares during the quarter. EntryPoint Capital LLC's holdings in L3Harris Technologies were worth $649,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after purchasing an additional 216 shares during the period. BankPlus Wealth Management LLC boosted its position in shares of L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after acquiring an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after acquiring an additional 1,236 shares in the last quarter. Brighton Jones LLC boosted its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. Finally, Capital Analysts LLC boosted its position in shares of L3Harris Technologies by 4.2% during the 4th quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock valued at $9,360,000 after acquiring an additional 1,808 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Truist Financial lifted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research 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 company a "sector perform" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Price Performance

LHX stock traded down $0.7820 during trading on Friday, hitting $275.3280. 754,919 shares of the stock traded hands, compared to its average volume of 1,213,427. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The stock has a market cap of $51.51 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.02 and a beta of 0.77. The company has a 50 day simple moving average of $263.52 and a 200 day simple moving average of $233.89. The company has a current ratio of 1.04, a quick ratio of 0.87 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm 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 firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $39,236,182.56. This trade represents a 21.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,199 shares of company stock valued at $39,045,071 in the last 90 days. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Company 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.