RKL Wealth Management LLC Sells 1,174 Shares of L3Harris Technologies Inc $LHX

Key Points

• RKL Wealth Management LLC reduced its holdings in L3Harris Technologies by 10.1%, selling 1,174 shares, and now owns 10,394 shares valued at approximately $2.6 million.
• L3Harris Technologies' CEO, Christopher E. Kubasik, sold 83,000 shares, representing a significant drop of 36.31% in his ownership, totaling over $23 million from the transaction.
• Analysts maintain a consensus rating of Moderate Buy for L3Harris Technologies, with target prices raised by multiple firms, indicating positive sentiment in the market.

RKL Wealth Management LLC trimmed its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 10.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,394 shares of the company's stock after selling 1,174 shares during the period. RKL Wealth Management LLC's holdings in L3Harris Technologies were worth $2,607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky boosted its stake in shares of L3Harris Technologies by 44.4% during 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 last quarter. DB Fitzpatrick & Co Inc lifted its stake in shares of L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company's stock valued at $1,116,000 after buying an additional 42 shares in the last quarter. Norway Savings Bank lifted its stake in shares of L3Harris Technologies by 3.0% during the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company's stock valued at $374,000 after buying an additional 44 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of L3Harris Technologies by 3.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock valued at $314,000 after buying an additional 45 shares in the last quarter. Finally, BankPlus Wealth Management LLC increased its holdings in L3Harris Technologies by 2.2% in the 2nd quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company's stock valued at $528,000 after acquiring an additional 45 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 145,578 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Insiders have sold 195,138 shares of company stock worth $53,571,774 over the last quarter. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Barclays lifted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada lifted 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. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Trading Down 1.5%

Shares of L3Harris Technologies stock opened at $300.80 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $305.94. The firm has a market capitalization of $56.28 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.23 and a beta of 0.76. The firm's 50 day simple moving average is $278.03 and its two-hundred day simple moving average is $248.41.

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

L3Harris Technologies Dividend Announcement

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