LaFleur & Godfrey LLC Sells 3,700 Shares of L3Harris Technologies Inc $LHX

Key Points

• LaFleur & Godfrey LLC reduced its holdings in L3Harris Technologies Inc by 17.1%, selling 3,700 shares and now owning 17,938 shares valued at approximately $4.5 million.
• The company recently reported earnings of $2.78 per share, exceeding analysts' expectations and achieving a revenue of $5.43 billion for the quarter.
• L3Harris Technologies announced a quarterly dividend of $1.20, resulting in an annualized dividend yield of 1.7%, with a payout ratio of 53.63%.

LaFleur & Godfrey LLC lessened its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,938 shares of the company's stock after selling 3,700 shares during the quarter. LaFleur & Godfrey LLC's holdings in L3Harris Technologies were worth $4,500,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Norway Savings Bank grew its holdings in shares of L3Harris Technologies by 3.0% in the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company's stock worth $374,000 after purchasing an additional 44 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in L3Harris Technologies by 3.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock valued at $314,000 after purchasing an additional 45 shares during the period. Transce3nd LLC lifted its position in L3Harris Technologies by 7.9% during the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock valued at $137,000 after purchasing an additional 48 shares during the period. Koshinski Asset Management Inc. lifted its position in L3Harris Technologies by 3.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after purchasing an additional 50 shares during the period. Finally, Bard Financial Services Inc. raised its position in shares of L3Harris Technologies by 1.0% in the 2nd quarter. Bard Financial Services Inc. now owns 4,950 shares of the company's stock valued at $1,242,000 after acquiring an additional 50 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Up 0.3%

LHX opened at $283.67 on Monday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $286.81. 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 capitalization of $53.07 billion, a P/E ratio of 31.70, a P/E/G ratio of 2.08 and a beta of 0.76. The stock has a fifty day moving average of $273.51 and a 200-day moving average of $244.49.

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 analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the firm earned $3.24 earnings per share. The company's revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Activity at L3Harris Technologies

In related 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 value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LHX shares. Citigroup increased 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. Robert W. Baird raised their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Susquehanna raised their price target 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. Truist Financial raised their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada raised their target price 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. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $279.47.

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.

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