Signal Advisors Wealth LLC Purchases Shares of 2,018 L3Harris Technologies Inc $LHX

Key Points

• Signal Advisors Wealth LLC invested $506,000 in L3Harris Technologies, acquiring 2,018 shares in the second quarter, reflecting growing institutional interest in the company.
• Multiple analysts have raised their price targets for L3Harris Technologies, with Barclays setting a new target of $305.00, indicating a bullish outlook for the company's stock.
• L3Harris Technologies reported earnings of $2.78 per share for the last quarter, beating expectations by $0.30, and set a guidance of $10.400 to $10.600 EPS for FY 2025.

Signal Advisors Wealth LLC bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,018 shares of the company's stock, valued at approximately $506,000.

Several other institutional investors also recently made changes to their positions in LHX. Brighton Jones LLC grew its stake in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after purchasing an additional 1,236 shares during the period. Waverly Advisors LLC raised its stake in L3Harris Technologies by 114.1% during the 4th quarter. Waverly Advisors LLC now owns 8,868 shares of the company's stock valued at $1,865,000 after purchasing an additional 4,726 shares during the period. CSS LLC IL acquired a new stake in L3Harris Technologies during the 4th quarter valued at $315,000. Finally, Novem Group acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $404,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 0.6%

NYSE LHX traded up $1.68 on Tuesday, reaching $286.00. The company had a trading volume of 98,042 shares, compared to its average volume of 1,374,582. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $288.02. The company's fifty day moving average is $273.95 and its 200-day moving average is $244.93.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the previous year, the firm posted $3.24 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

Wall Street Analyst Weigh In

Several equities analysts have commented on LHX shares. Robert W. Baird increased their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup increased their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Truist Financial increased their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $279.47.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by corporate insiders.

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.