Focus Financial Network Inc. Makes New $241,000 Investment in L3Harris Technologies Inc $LHX

Key Points

• Focus Financial Network Inc. has made a new investment of $241,000 in L3Harris Technologies Inc, acquiring 960 shares during the 2nd quarter.
• Recent quarterly earnings showed L3Harris reported $2.78 EPS, exceeding analysts' expectations and achieving a 2.4% year-over-year revenue increase to $5.43 billion.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, resulting in an annualized yield of 1.7% and a payout ratio of 53.63%.

Focus Financial Network Inc. bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 960 shares of the company's stock, valued at approximately $241,000.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in L3Harris Technologies in the 1st quarter worth approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in L3Harris Technologies by 946.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after buying an additional 709,948 shares in the last quarter. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 12.2% in the 1st 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 in the last quarter. GAMMA Investing LLC grew its holdings in L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after buying an additional 510,438 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in L3Harris Technologies by 15.5% in the 1st 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 in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial increased their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Barclays upped their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $0.40 on Monday, reaching $284.34. 785,435 shares of the company traded hands, compared to its average volume of 981,935. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $286.81. The company's 50 day moving average is $273.51 and its 200-day moving average is $244.49. The stock has a market capitalization of $53.20 billion, a PE ratio of 23.66, a P/E/G ratio of 2.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

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. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the firm earned $3.24 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company's 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 directly 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 accessible through the SEC website. Insiders sold a total of 195,138 shares of company stock worth $53,571,774 in the last quarter. 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.