Talon Private Wealth LLC Acquires 11,865 Shares of L3Harris Technologies Inc $LHX

Key Points

• Talon Private Wealth LLC significantly increased its stake in L3Harris Technologies by 4,671.3% during the first quarter, owning 12,119 shares valued at approximately $2.54 million after acquiring 11,865 shares.
• Royal Bank of Canada and Barclays both raised their price targets for L3Harris Technologies to $280 and $305 respectively, with a majority of analysts rating the stock as a "Moderate Buy."
• L3Harris Technologies reported an earnings per share of $2.78 for the last quarter, outperforming estimates and showing 2.4% revenue growth compared to the previous year.

Talon Private Wealth LLC grew its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4,671.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,119 shares of the company's stock after purchasing an additional 11,865 shares during the quarter. Talon Private Wealth LLC's holdings in L3Harris Technologies were worth $2,536,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LHX. Nuveen LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of L3Harris Technologies by 946.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after buying an additional 709,948 shares during the period. Wellington Management Group LLP grew its position in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after buying an additional 557,610 shares during the period. GAMMA Investing LLC grew its position in shares of L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after buying an additional 510,438 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after buying an additional 311,886 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Barclays lifted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Citigroup lifted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research 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. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $279.47.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 0.3%

LHX traded down $0.83 during mid-day trading on Friday, reaching $279.80. 322,435 shares of the stock were exchanged, compared to its average volume of 1,394,283. 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 stock has a market capitalization of $52.35 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.02 and a beta of 0.76. The company has a 50 day moving average price of $270.63 and a two-hundred day moving average price of $240.87. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $281.67.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is 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.