L3Harris Technologies Inc $LHX Shares Sold by Iams Wealth Management LLC

Key Points

• Iams Wealth Management LLC has reduced its stake in L3Harris Technologies Inc by 13.2%, now owning 9,977 shares valued at approximately $2.5 million.
• CEO Christopher E. Kubasik sold 83,000 shares of L3Harris at an average price of $279.90, reducing his ownership by 36.31%.
• L3Harris reported $2.78 EPS, exceeding estimates, with a revenue of $5.43 billion for the last quarter, reflecting a 2.4% year-over-year increase.

Iams Wealth Management LLC trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 13.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,977 shares of the company's stock after selling 1,511 shares during the period. L3Harris Technologies accounts for about 1.1% of Iams Wealth Management LLC's holdings, making the stock its 23rd biggest holding. Iams Wealth Management LLC's holdings in L3Harris Technologies were worth $2,503,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LHX. Clearstead Trust LLC acquired a new stake in L3Harris Technologies during the first quarter worth about $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies during the first quarter valued at about $26,000. Beacon Capital Management LLC increased its position in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC increased its position in shares of 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 acquiring an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LHX shares. Robert W. Baird lifted their price target 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. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. UBS Group lifted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Susquehanna lifted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Stock Up 0.1%

Shares of NYSE:LHX traded up $0.40 during trading on Monday, hitting $284.34. 785,435 shares of the company were exchanged, compared to its average volume of 981,935. The stock has a market capitalization of $53.20 billion, a P/E ratio of 31.77, a PEG 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 Inc has a 12-month low of $193.09 and a 12-month high of $286.81. The firm's 50 day moving average price is $273.95 and its 200-day moving average price is $244.93.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating 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 firm 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. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a 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.