Rheos Capital Works Inc. Cuts Stake in L3Harris Technologies Inc $LHX

Key Points

• Rheos Capital Works Inc. reduced its stake in L3Harris Technologies by 1.6%, selling 1,100 shares to hold 66,200 shares valued at approximately $16.6 million.
• Wall Street analysts have a favorable outlook for L3Harris Technologies, with a consensus rating of "Moderate Buy" and an average target price of $278.19.
• The company recently announced a quarterly dividend of $1.20 per share, with an annualized yield of 1.6%, to be paid on December 5th to investors of record on November 17th.

Rheos Capital Works Inc. lessened its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 66,200 shares of the company's stock after selling 1,100 shares during the period. Rheos Capital Works Inc.'s holdings in L3Harris Technologies were worth $16,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. Clearstead Trust LLC purchased a new stake in L3Harris Technologies in the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares during the period. Kiker Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock valued at $27,000 after buying an additional 63 shares in the last quarter. Finally, Independence Bank of Kentucky grew its holdings in L3Harris Technologies by 44.4% during the second 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. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LHX. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Susquehanna increased their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $278.19.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction 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 of the company's stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, 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 Price Performance

L3Harris Technologies stock opened at $300.03 on Wednesday. The firm has a market capitalization of $56.14 billion, a PE ratio of 33.52, a P/E/G ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The firm's 50-day simple moving average is $282.49 and its 200 day simple moving average is $254.14. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter in the previous year, the business posted $3.24 earnings per share. The firm's quarterly 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. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business 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 $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies's dividend payout ratio is presently 53.63%.

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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