Prostatis Group LLC Purchases Shares of 925 L3Harris Technologies Inc $LHX

Key Points

• Prostatis Group LLC has acquired 925 shares of L3Harris Technologies Inc, valued at approximately $232,000, in a recent SEC filing.
• In the second quarter, 84.76% of L3Harris stock is owned by institutional investors, indicating strong institutional interest in the company.
• L3Harris Technologies recently reported $2.78 EPS for the quarter, surpassing analysts' estimates and indicating a revenue increase of 2.4% year-over-year.

Prostatis Group LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 925 shares of the company's stock, valued at approximately $232,000.

A number of other large investors have also recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new position in L3Harris Technologies in the first quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies in the first quarter valued at about $26,000. Beacon Capital Management LLC boosted 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 buying an additional 58 shares in the last quarter. Independence Bank of Kentucky boosted its position in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock valued at $33,000 after buying an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after buying an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX opened at $292.45 on Monday. The stock has a market cap of $54.72 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock's 50-day moving average price is $281.74 and its two-hundred day moving average price is $253.22. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12.

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

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on LHX shares. Barclays boosted their price target 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. Weiss Ratings restated a "buy (b-)" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. UBS Group increased their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Susquehanna increased their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, Robert W. Baird raised their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Thirteen investment 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $278.19.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Insiders sold 195,138 shares of company stock valued at $53,571,774 in the last ninety days. 0.72% of the stock is owned by company insiders.

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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