Fulton Bank N.A. Takes $558,000 Position in L3Harris Technologies Inc $LHX

Key Points

• Fulton Bank N.A. has invested approximately $558,000 in L3Harris Technologies by acquiring 2,225 shares during the second quarter.
• Analysts have upgraded their price targets for L3Harris Technologies, with estimates ranging from $280.00 to $320.00, reflecting strong confidence in the company's performance.
• L3Harris Technologies reported a quarterly earnings per share of $2.78, surpassing expectations and demonstrating a 2.4% year-over-year revenue increase.

Fulton Bank N.A. bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,225 shares of the company's stock, valued at approximately $558,000.

A number of other large investors also recently modified their holdings of the business. Waypoint Wealth Partners Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at $301,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of L3Harris Technologies by 9.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 49,157 shares of the company's stock worth $12,571,000 after purchasing an additional 4,149 shares in the last quarter. Atticus Wealth Management LLC raised its stake in shares of L3Harris Technologies by 115.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 1,279 shares of the company's stock valued at $321,000 after acquiring an additional 684 shares in the last quarter. Wedmont Private Capital grew its position in L3Harris Technologies by 6.3% in the 2nd quarter. Wedmont Private Capital now owns 1,179 shares of the company's stock worth $305,000 after purchasing an additional 70 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of L3Harris Technologies by 1.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,861 shares of the company's stock worth $5,734,000 after acquiring an additional 418 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies 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 owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last three months. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

LHX stock traded up $0.86 during trading on Monday, reaching $284.80. The stock had a trading volume of 452,206 shares, compared to its average volume of 1,379,720. The stock's 50 day moving average is $273.51 and its two-hundred day moving average is $244.49. The firm has a market cap of $53.28 billion, a PE ratio of 31.83, a PEG ratio of 2.08 and a beta of 0.76. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $286.81. 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 posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the firm posted $3.24 earnings per share. The firm's 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, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on LHX shares. UBS Group raised their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Robert W. Baird raised their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup lifted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Truist Financial raised their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Thirteen equities 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, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average target price of $279.47.

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.