NovaPoint Capital LLC Boosts Stock Position in L3Harris Technologies Inc $LHX

Key Points

• NovaPoint Capital LLC increased its stake in L3Harris Technologies by 6.0% during Q2, holding 17,568 shares valued at approximately $4.41 million.
• Wall Street analysts have a favorable outlook for L3Harris, with a current consensus rating of "Moderate Buy" and an average price target of $279.47.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, resulting in an annualized yield of 1.6%.

NovaPoint Capital LLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,568 shares of the company's stock after buying an additional 1,000 shares during the period. NovaPoint Capital LLC's holdings in L3Harris Technologies were worth $4,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Clearstead Trust LLC acquired a new position in L3Harris Technologies in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies in the 1st quarter valued at $26,000. Beacon Capital Management LLC lifted its position in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Park Square Financial Group LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at $37,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Royal Bank Of Canada increased their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. 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 note on Tuesday, July 29th. Citigroup boosted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Up 1.6%

Shares of NYSE:LHX opened at $293.83 on Friday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $293.94. The company's fifty day moving average is $275.90 and its two-hundred day moving average is $246.54. 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 stock has a market capitalization of $54.98 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction 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. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last quarter. 0.72% of the stock is owned by insiders.

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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