Focus Partners Wealth Sells 1,668 Shares of L3Harris Technologies Inc $LHX

Key Points

• Focus Partners Wealth reduced its stake in L3Harris Technologies by 2.5%, selling 1,668 shares, and now holds 65,508 shares valued at approximately $13.71 million.
• During the same period, institutional investors increased their ownership to 84.76% of the company's stock, with notable increases from Caisse DE Depot ET Placement DU Quebec and GAMMA Investing LLC.
• L3Harris Technologies reported earnings of $2.78 per share, exceeding analysts' expectations, and has set a fiscal year 2025 guidance of 10.400-10.600 EPS.

Focus Partners Wealth lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,508 shares of the company's stock after selling 1,668 shares during the period. Focus Partners Wealth's holdings in L3Harris Technologies were worth $13,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Transce3nd LLC lifted its holdings in shares of L3Harris Technologies by 7.9% during the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after acquiring an additional 48 shares during the period. Koshinski Asset Management Inc. increased its position in L3Harris Technologies by 3.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after purchasing an additional 50 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its position in L3Harris Technologies by 2.2% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 2,404 shares of the company's stock worth $503,000 after purchasing an additional 51 shares in the last quarter. Northstar Financial Companies Inc. increased its position in L3Harris Technologies by 2.7% during the 1st quarter. Northstar Financial Companies Inc. now owns 2,009 shares of the company's stock worth $421,000 after purchasing an additional 52 shares in the last quarter. Finally, CWC Advisors LLC. increased its position in L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. Royal Bank Of Canada upped 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 report on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Truist Financial upped their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. UBS Group upped their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays upped their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last ninety days. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 0.9%

NYSE LHX traded up $2.56 on Monday, hitting $281.76. The company's stock had a trading volume of 783,399 shares, compared to its average volume of 971,640. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $282.22. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company's 50-day moving average is $271.59 and its 200 day moving average is $242.44. The firm has a market cap of $52.72 billion, a PE ratio of 31.48, a PEG ratio of 2.04 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 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the prior year, the company posted $3.24 earnings per share. L3Harris Technologies's revenue for the quarter 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 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 disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend 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.