Simplicity Wealth LLC Invests $318,000 in L3Harris Technologies Inc $LHX

Key Points

• Simplicity Wealth LLC invested approximately $318,000 to acquire a new stake of 1,266 shares in L3Harris Technologies Inc (NYSE:LHX) during the second quarter.
• CEO Christopher E. Kubasik sold 83,000 shares worth $23.23 million on September 12th, reducing his ownership by 36.31%.
• L3Harris Technologies reported a quarterly EPS of $2.78, exceeding estimates, with revenue of $5.43 billion, showcasing a 2.4% year-over-year increase.

Simplicity Wealth LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,266 shares of the company's stock, valued at approximately $318,000.

Several other institutional investors also recently bought and sold shares of the company. Independence Bank of Kentucky boosted its stake in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock valued at $33,000 after purchasing an additional 40 shares during the period. DB Fitzpatrick & Co Inc boosted its stake in shares of L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company's stock valued at $1,116,000 after purchasing an additional 42 shares during the period. Norway Savings Bank boosted its stake in shares of L3Harris Technologies by 3.0% during the second quarter. Norway Savings Bank now owns 1,490 shares of the company's stock valued at $374,000 after purchasing an additional 44 shares during the period. Salem Investment Counselors Inc. lifted its stake in L3Harris Technologies by 3.7% in the second quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock worth $314,000 after acquiring an additional 45 shares during the period. Finally, BankPlus Wealth Management LLC lifted its stake in L3Harris Technologies by 2.2% in the second quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company's stock worth $528,000 after acquiring an additional 45 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

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 transaction of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents 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 this hyperlink. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last 90 days. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $306.83 on Thursday. The company has a market capitalization of $57.41 billion, a PE ratio of 34.28, a P/E/G ratio of 2.20 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. The company has a 50-day simple moving average of $280.99 and a two-hundred day simple moving average of $251.50. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $306.83.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.31 billion. During the same quarter in the prior year, the company posted $3.24 earnings per share. The company's revenue for the quarter 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. Research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio is 53.63%.

Analyst Ratings Changes

A number of analysts recently weighed in on LHX shares. UBS Group upped their price objective 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. Citigroup upped their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Truist Financial upped their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Robert W. Baird upped their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $279.47.

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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