L3Harris Technologies Inc $LHX Stock Holdings Raised by Gries Financial LLC

Key Points

• Gries Financial LLC significantly increased its stake in L3Harris Technologies by 164.4%, owning nearly 12,000 shares valued at approximately $2.99 million post-purchase.
• CEO Christopher E. Kubasik sold 83,000 shares of L3Harris stock, amounting to over $23 million, reducing his holdings by 36.31%.
• Multiple research firms recently raised their price targets for L3Harris Technologies, with a consensus rating of "Moderate Buy" and an average target price of $279.47.

Gries Financial LLC lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 164.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,928 shares of the company's stock after purchasing an additional 7,417 shares during the period. Gries Financial LLC's holdings in L3Harris Technologies were worth $2,992,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in shares of L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after acquiring an additional 216 shares in the last quarter. Dean Capital Management lifted its stake in L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company's stock worth $2,009,000 after purchasing an additional 986 shares during the last quarter. MBB Public Markets I LLC acquired a new position in L3Harris Technologies in the first quarter worth $310,000. Osterweis Capital Management Inc. increased its stake in L3Harris Technologies by 14.9% during the first quarter. Osterweis Capital Management Inc. now owns 124,107 shares of the company's stock valued at $25,977,000 after purchasing an additional 16,091 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of L3Harris Technologies during the first quarter worth $1,593,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on LHX. Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Barclays raised their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $284.34 on Tuesday. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $286.81. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a market cap of $53.20 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76. The company's 50-day moving average price is $273.95 and its two-hundred day moving average price is $244.93.

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 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 company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the firm posted $3.24 EPS. The business's revenue for the quarter 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, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio is currently 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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