Modern Wealth Management LLC Makes New $204,000 Investment in L3Harris Technologies Inc $LHX

Key Points

• Modern Wealth Management LLC made a new investment of approximately $204,000 in shares of L3Harris Technologies, acquiring 974 shares in the first quarter.
• Several institutional investors have increased their stakes in L3Harris Technologies, with hedge funds collectively owning 84.76% of the company's stock.
• L3Harris Technologies has received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and an average target price of $279.47.

Modern Wealth Management LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 974 shares of the company's stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Transce3nd LLC lifted its holdings in shares of L3Harris Technologies by 7.9% in the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after acquiring an additional 48 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 3.1% in 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 during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of L3Harris Technologies by 2.2% in 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 during the last quarter. Twin Lakes Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 0.4% in the 1st quarter. Twin Lakes Capital Management LLC now owns 14,259 shares of the company's stock worth $2,985,000 after acquiring an additional 51 shares during the last quarter. Finally, Northstar Financial Companies Inc. lifted its holdings in shares of L3Harris Technologies by 2.7% in the 1st quarter. Northstar Financial Companies Inc. now owns 2,009 shares of the company's stock worth $421,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LHX shares. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Truist Financial upped their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Citigroup upped their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Trading Up 0.9%

NYSE LHX opened at $281.76 on Tuesday. 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's fifty day moving average price is $271.59 and its 200 day moving average price is $242.44. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $282.22.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted 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. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company's revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on 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 sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by corporate insiders.

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.

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