Sequoia Financial Advisors LLC Has $3.01 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Sequoia Financial Advisors LLC increased its stake in L3Harris Technologies by 19.3% during the second quarter, now holding shares worth approximately $3.01 million.
• Several institutional investors, including MGO One Seven LLC and Lion Street Advisors, have also increased their positions in L3Harris Technologies, contributing to a significant institutional ownership of 84.76%.
• L3Harris Technologies received multiple positive analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $287.63.

Sequoia Financial Advisors LLC lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,011 shares of the company's stock after buying an additional 1,946 shares during the quarter. Sequoia Financial Advisors LLC's holdings in L3Harris Technologies were worth $3,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Lion Street Advisors LLC grew its position in shares of L3Harris Technologies by 24.2% during the 2nd quarter. Lion Street Advisors LLC now owns 1,435 shares of the company's stock worth $360,000 after buying an additional 280 shares during the period. MGO One Seven LLC grew its position in L3Harris Technologies by 97.1% in the 2nd quarter. MGO One Seven LLC now owns 9,780 shares of the company's stock valued at $2,453,000 after purchasing an additional 4,818 shares during the period. Welch Group LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at $237,000. Cypress Capital Group grew its position in L3Harris Technologies by 6.4% in the 2nd quarter. Cypress Capital Group now owns 10,079 shares of the company's stock valued at $2,528,000 after purchasing an additional 604 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its position in L3Harris Technologies by 3.7% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 183,135 shares of the company's stock valued at $45,938,000 after purchasing an additional 6,557 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on LHX. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Weiss Ratings reissued a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Truist Financial lifted their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.63.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies 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 directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $289.76 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. The stock's fifty day simple moving average is $282.73 and its two-hundred day simple moving average is $254.39. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The stock has a market cap of $54.21 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.19 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period last year, the business earned $3.24 EPS. The business'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, analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders 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 dividend yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.