L3Harris Technologies Inc $LHX Holdings Raised by Trifecta Capital Advisors LLC

Key Points

• Trifecta Capital Advisors LLC increased its holdings in L3Harris Technologies by 6.3% in the second quarter, owning 15,317 shares valued at approximately $3.84 million.
• CEO Christopher E. Kubasik sold 83,000 shares at around $279.90 each, reducing his holdings by 36.31% and retaining about 145,578 shares valued at over $40 million.
• Recent analyst reports show a positive outlook for L3Harris Technologies, with multiple firms raising target prices and maintaining "buy" ratings, indicating strong investor confidence.

Trifecta Capital Advisors LLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,317 shares of the company's stock after purchasing an additional 910 shares during the quarter. Trifecta Capital Advisors LLC's holdings in L3Harris Technologies were worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LHX. Nuveen LLC bought a new position in shares of L3Harris Technologies during the 1st quarter valued at $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its position in L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after purchasing an additional 709,948 shares during the period. Wellington Management Group LLP boosted its position in L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after purchasing an additional 557,610 shares during the period. Allspring Global Investments Holdings LLC boosted its position in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after purchasing an additional 311,886 shares during the period. Finally, Appaloosa LP bought a new stake in L3Harris Technologies during the first quarter worth approximately $62,793,000. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. 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 note on Friday, July 25th. 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. Finally, Royal Bank Of Canada raised their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $306.83 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm's 50-day simple moving average is $280.99 and its 200-day simple moving average is $251.50. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $306.83. The firm has a market cap of $57.41 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the business earned $3.24 EPS. The firm's revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies's payout ratio is 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.

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