L3Harris Technologies Inc $LHX Shares Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in L3Harris Technologies by 20.6%, acquiring an additional 33,019 shares during the second quarter, bringing its total ownership to 0.10% of the company.
• L3Harris Technologies reported an EPS of $2.78 for the last quarter, exceeding analyst estimates and reflecting a 2.4% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $1.20 per share, leading to an annualized yield of 1.6% and a dividend payout ratio of 53.63%.

Janney Montgomery Scott LLC grew its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 193,381 shares of the company's stock after buying an additional 33,019 shares during the quarter. Janney Montgomery Scott LLC owned 0.10% of L3Harris Technologies worth $48,508,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Beacon Capital Management LLC boosted its holdings in L3Harris Technologies by 79.5% in 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. Independence Bank of Kentucky grew its stake in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after purchasing an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $305.76 on Wednesday. The firm has a market cap of $57.21 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76. The business's 50 day moving average is $277.40 and its 200-day moving average is $248.05. 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 Inc has a 1-year low of $193.09 and a 1-year high of $305.94.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the firm earned $3.24 EPS. The business'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. Equities research analysts predict 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 was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a $1.20 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Analyst Ratings Changes

LHX has been the topic of several analyst reports. Barclays raised their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Citigroup upped 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. Susquehanna increased 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. Finally, Truist Financial upped their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $279.47.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 195,138 shares of company stock worth $53,571,774 over the last quarter. Company insiders own 0.72% of the company's stock.

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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