Ipswich Investment Management Co. Inc. Has $677,000 Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Ipswich Investment Management Co. Inc. reduced its holdings in L3Harris Technologies by 42.1%, now owning 2,698 shares valued at approximately $677,000.
• Research analysts generally have a positive outlook on L3Harris Technologies, with thirteen giving a "Buy" rating and a consensus price target of $279.47.
• CEO Christopher E. Kubasik sold 83,000 shares for over $23 million, reducing his ownership by 36.31%, while insiders have sold a total of 195,138 shares valued at about $53.5 million over the last ninety days.

Ipswich Investment Management Co. Inc. lowered its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 42.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,698 shares of the company's stock after selling 1,960 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in L3Harris Technologies were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Clearstead Trust LLC acquired a new stake in L3Harris Technologies in the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies during the first quarter worth about $26,000. Beacon Capital Management LLC boosted its position in 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 purchasing an additional 58 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after buying an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LHX. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Truist Financial raised their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Susquehanna raised their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Finally, UBS Group lifted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Thirteen 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.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $279.47.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business'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 sale, the chief executive officer directly 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 document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $293.83 on Friday. The company has a market capitalization of $54.98 billion, a PE ratio of 32.83, a P/E/G ratio of 2.11 and a beta of 0.76. 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 firm has a fifty day simple moving average of $275.90 and a 200 day simple moving average of $246.54. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $293.94.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share 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 period in the previous year, the firm posted $3.24 earnings per share. The business'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. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies's payout ratio is currently 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.

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