L3Harris Technologies Inc $LHX Shares Purchased by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC increased its holdings in L3Harris Technologies by 12.0% during the second quarter, bringing their total shares owned to 8,110, valued at $2,034,000.
• The stock has received several analyst upgrades, with target prices now ranging from $280.00 to $323.00, and a majority of analysts rating it as a "Buy".
• CEO Christopher E. Kubasik sold 83,000 shares on September 12 at an average price of $279.90, marking a 36.31% decrease in his ownership of the stock.

Kingswood Wealth Advisors LLC increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,110 shares of the company's stock after purchasing an additional 866 shares during the period. Kingswood Wealth Advisors LLC's holdings in L3Harris Technologies were worth $2,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LHX. Brighton Jones LLC grew its stake in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Wedmont Private Capital grew its stake in shares of L3Harris Technologies by 9.8% during the first quarter. Wedmont Private Capital now owns 1,109 shares of the company's stock worth $246,000 after purchasing an additional 99 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of L3Harris Technologies by 24.4% during the first quarter. Park Avenue Securities LLC now owns 6,919 shares of the company's stock worth $1,448,000 after purchasing an additional 1,359 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of L3Harris Technologies by 18.4% during the first quarter. Capital Investment Advisors LLC now owns 7,352 shares of the company's stock worth $1,539,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Courier Capital LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth $266,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of analyst reports. Susquehanna boosted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their price objective 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. Robert W. Baird upped their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays upped their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Citigroup upped their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $279.47.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 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 represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 195,138 shares of company stock worth $53,571,774 over the last three months. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $301.58 on Wednesday. The company has a 50-day simple moving average of $280.33 and a 200-day simple moving average of $251.12. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $305.94. 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 $56.43 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.22 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the prior year, the company earned $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, analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.