Robertson Stephens Wealth Management LLC Takes $235,000 Position in L3Harris Technologies Inc $LHX

Key Points

• Robertson Stephens Wealth Management LLC acquired a new stake in L3Harris Technologies valued at approximately $235,000, purchasing 935 shares during the 2nd quarter.
• Several institutional investors, including Cyndeo Wealth Partners and Horizon Bancorp, have also increased their stakes in L3Harris Technologies, indicating strong interest in the company.
• L3Harris Technologies reported quarterly earnings of $2.78 per share, surpassing analyst expectations, and has set FY 2025 guidance at $10.400-10.600 EPS.

Robertson Stephens Wealth Management LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 935 shares of the company's stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also made changes to their positions in LHX. Cyndeo Wealth Partners LLC raised its stake in L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company's stock valued at $350,000 after acquiring an additional 37 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in L3Harris Technologies by 233.6% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 714 shares of the company's stock valued at $179,000 after acquiring an additional 500 shares during the last quarter. Callan Family Office LLC raised its stake in L3Harris Technologies by 104.4% during the 2nd quarter. Callan Family Office LLC now owns 5,558 shares of the company's stock valued at $1,394,000 after acquiring an additional 2,839 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in L3Harris Technologies by 9.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 525 shares of the company's stock valued at $132,000 after acquiring an additional 46 shares during the last quarter. Finally, Leo Wealth LLC purchased a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $292,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Barclays upped their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Citigroup upped their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company 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 report on Wednesday. Finally, Truist Financial boosted their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $278.19.

L3Harris Technologies Stock Performance

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 P/E/G ratio of 2.14 and a beta of 0.76. 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's 50 day simple moving average is $281.74 and its 200 day simple moving average 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The business 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 company's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced 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 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 is 53.63%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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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