Moody Lynn & Lieberson LLC Buys Shares of 16,215 L3Harris Technologies Inc $LHX

Key Points

• Moody Lynn & Lieberson LLC has acquired a new stake in L3Harris Technologies, purchasing 16,215 shares valued at approximately $4,067,000.
• Analysts are optimistic about L3Harris Technologies, with 13 analysts rating it a Buy and a target price averaging $279.47, following several price increases from firms like Barclays and Robert W. Baird.
• L3Harris Technologies recently reported earnings per share of $2.78, exceeding estimates, alongside announcing a quarterly dividend of $1.20 per share, indicating a 1.6% yield.

Moody Lynn & Lieberson LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,215 shares of the company's stock, valued at approximately $4,067,000.

A number of other hedge funds have also modified their holdings of LHX. Price T Rowe Associates Inc. MD increased its position in L3Harris Technologies by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company's stock worth $2,058,151,000 after buying an additional 181,550 shares in the last quarter. Wellington Management Group LLP increased its position in L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after purchasing an additional 557,610 shares in the last quarter. Invesco Ltd. raised its stake in L3Harris Technologies by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company's stock valued at $491,323,000 after purchasing an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in L3Harris Technologies by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $299,157,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird upped 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. Finally, UBS Group raised their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" 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, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Up 1.6%

LHX opened at $293.83 on Monday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $293.94. The firm has a 50 day moving average price of $275.90 and a 200 day moving average price of $247.05. 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 $54.98 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.15 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the previous year, the company posted $3.24 earnings per share. L3Harris Technologies's revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 195,138 shares of company stock valued at $53,571,774 over the last 90 days. Company insiders own 0.72% of the company's stock.

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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