Stanley Laman Group Ltd. trimmed its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 8.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,247 shares of the company's stock after selling 1,416 shares during the quarter. Stanley Laman Group Ltd.'s holdings in L3Harris Technologies were worth $4,075,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the 1st quarter worth about $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the first quarter valued at about $26,000. Kiker Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock worth $27,000 after buying an additional 63 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of L3Harris Technologies in the second quarter worth approximately $32,000. Finally, Independence Bank of Kentucky increased its position in shares of 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 acquiring an additional 40 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an "equal weight" rating in a research report on Wednesday. Royal Bank Of Canada increased their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Weiss Ratings reissued a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Barclays raised their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $287.63.
Get Our Latest Stock Analysis on L3Harris Technologies
Insider Transactions at L3Harris Technologies
In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last three months. Corporate insiders own 0.72% of the company's stock.
L3Harris Technologies Stock Performance
Shares of LHX stock opened at $283.89 on Friday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The stock's 50-day moving average is $283.22 and its two-hundred day moving average is $255.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $53.12 billion, a P/E ratio of 31.72, a PEG ratio of 2.07 and a beta of 0.76.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly 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. The business had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.
L3Harris Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies's payout ratio is presently 53.63%.
About L3Harris Technologies
(
Free Report)
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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