Ieq Capital LLC Has $780,000 Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Ieq Capital LLC reduced its stake in L3Harris Technologies by 66.3%, selling 7,333 shares and holding 3,726 shares worth approximately $780,000 after the sale.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for L3Harris Technologies, with a price target average of $279.47.
• The company announced a quarterly dividend of $1.20 per share, representing an annualized dividend of $4.80 and a yield of 1.7%.

Ieq Capital LLC decreased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 66.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,726 shares of the company's stock after selling 7,333 shares during the quarter. Ieq Capital LLC's holdings in L3Harris Technologies were worth $780,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. CreativeOne Wealth LLC grew its stake in shares of L3Harris Technologies by 5.7% in the 1st quarter. CreativeOne Wealth LLC now owns 3,908 shares of the company's stock valued at $818,000 after buying an additional 211 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of L3Harris Technologies by 4.6% in the 1st quarter. Gabelli Funds LLC now owns 95,674 shares of the company's stock valued at $20,026,000 after buying an additional 4,250 shares in the last quarter. Potomac Fund Management Inc. ADV grew its stake in shares of L3Harris Technologies by 15.1% in the 1st quarter. Potomac Fund Management Inc. ADV now owns 7,891 shares of the company's stock valued at $1,690,000 after buying an additional 1,037 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of 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 valued at $164,297,000 after buying an additional 709,948 shares in the last quarter. Finally, Brooks Moore & Associates Inc. grew its stake in shares of L3Harris Technologies by 2.0% in the 1st quarter. Brooks Moore & Associates Inc. now owns 4,114 shares of the company's stock valued at $861,000 after buying an additional 80 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 72,000 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 145,199 shares of company stock valued at $38,555,071 in the last three months. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LHX. Robert W. Baird boosted their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. UBS Group upped their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Sanford C. Bernstein reaffirmed 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Stock Performance

Shares of LHX stock traded down $0.64 during trading hours on Friday, reaching $272.35. 1,071,523 shares of the company's stock were exchanged, compared to its average volume of 1,034,866. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.52. The stock has a market capitalization of $50.96 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.00 and a beta of 0.76. The business has a fifty day moving average price of $268.92 and a 200-day moving average price of $238.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping 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 analyst estimates of $5.31 billion. During the same period in the previous year, the company earned $3.24 earnings per share. 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. Analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

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.