Quotient Wealth Partners LLC Purchases New Shares in L3Harris Technologies Inc $LHX

Key Points

• Quotient Wealth Partners LLC has acquired 1,475 shares of L3Harris Technologies, valued at approximately $370,000, reflecting continued institutional interest in the company.
• Insider transactions saw CEO Christopher E. Kubasik sell 83,000 shares for over $23 million, reducing his stake significantly by 36.31%.
• L3Harris Technologies recently announced a quarterly dividend of $1.20 per share, with a payout ratio of 53.63%, indicating strong financial health.

Quotient Wealth Partners LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,475 shares of the company's stock, valued at approximately $370,000.

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

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $283.89 on Friday. 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 stock has a market cap of $53.12 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76. The stock has a 50-day moving average of $283.22 and a 200-day moving average of $255.72. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly 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. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the prior year, the business posted $3.24 EPS. L3Harris Technologies'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, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on LHX shares. Susquehanna boosted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Royal Bank Of Canada boosted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Citigroup boosted their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley boosted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the stock an "equal weight" rating in a report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average 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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