AlphaQuest LLC Has $215,000 Holdings in L3Harris Technologies Inc $LHX

Key Points

• AlphaQuest LLC has significantly reduced its stake in L3Harris Technologies by 89.8%, now holding 1,029 shares valued at $215,000.
• Wall Street analysts have generally rated L3Harris Technologies positively, with an average target price of $279.47 and several analysts upgrading the stock to "buy."
• CEO Christopher E. Kubasik sold 72,000 shares of company stock for over $19 million, indicating a 33.09% reduction in his position.

AlphaQuest LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 89.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,029 shares of the company's stock after selling 9,077 shares during the period. AlphaQuest LLC's holdings in L3Harris Technologies were worth $215,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Transce3nd LLC boosted its stake in shares of L3Harris Technologies by 7.9% during the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after acquiring an additional 48 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 3.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after acquiring an additional 50 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its stake in shares of L3Harris Technologies by 2.2% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 2,404 shares of the company's stock worth $503,000 after acquiring an additional 51 shares in the last quarter. CWC Advisors LLC. boosted its stake in shares of L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after acquiring an additional 53 shares in the last quarter. Finally, Callan Capital LLC boosted its stake in shares of L3Harris Technologies by 5.0% during the 1st quarter. Callan Capital LLC now owns 1,107 shares of the company's stock worth $232,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,138 shares of L3Harris Technologies stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $269.52, for a total value of $10,817,993.76. Following the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,236,182.56. This trade represents a 21.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 145,199 shares of company stock valued at $38,555,071. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Robert W. Baird increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. 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. Finally, Citigroup increased their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Trading Up 0.1%

LHX stock traded up $0.25 during midday trading on Thursday, hitting $273.36. 504,491 shares of the company's stock were exchanged, compared to its average volume of 1,407,220. The stock's fifty day moving average price is $267.90 and its 200-day moving average price is $237.69. 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 company has a market cap of $51.14 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the company posted $3.24 earnings per share. The company'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. Research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

L3Harris Technologies 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.