Mutual Advisors LLC Sells 896 Shares of L3Harris Technologies Inc $LHX

Key Points

• Mutual Advisors LLC has reduced its stake in L3Harris Technologies by 20.4%, selling 896 shares, leaving it with a total of 3,494 shares valued at approximately $941,000.
• L3Harris's latest earnings report showed earnings per share of $2.78, surpassing estimates, with a revenue of $5.43 billion, reflecting a 2.4% year-over-year increase.
• The company has announced a quarterly dividend of $1.20 per share, payable on December 5th, with a dividend yield of 1.7% for shareholders of record on November 17th.

Mutual Advisors LLC lowered its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 20.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,494 shares of the company's stock after selling 896 shares during the quarter. Mutual Advisors LLC's holdings in L3Harris Technologies were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Trust LLC bought a new position in L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies in the 1st quarter worth $26,000. Kiker Wealth Management LLC raised its holdings in L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock worth $27,000 after acquiring an additional 63 shares during the period. Independence Bank of Kentucky raised its holdings in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after acquiring an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after acquiring an additional 139 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $283.89 on Friday. 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 firm's 50-day simple moving average is $283.22 and its 200-day simple moving average is $255.72. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The firm has a market cap of $53.12 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results 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 business 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 business earned $3.24 EPS. The firm'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. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's payout ratio is 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated 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 sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on LHX shares. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Morgan Stanley raised their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Barclays raised their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $287.63.

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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