L3Harris Technologies Inc $LHX Shares Acquired by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC increased its stake in L3Harris Technologies by 3.1%, owning a total of 66,189 shares worth approximately $13.85 million.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, with an annualized yield of 1.8%.
• Equities research analysts have given L3Harris Technologies a consensus rating of "Moderate Buy" with a target price averaging around $279.47.

Steward Partners Investment Advisory LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,189 shares of the company's stock after acquiring an additional 1,997 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in L3Harris Technologies were worth $13,854,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LHX. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the 1st quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after buying an additional 139 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $39,236,182.56. This represents a 21.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,199 shares of company stock worth $39,045,071 in the last ninety days. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $0.7820 during trading hours on Friday, hitting $275.3280. The company's stock had a trading volume of 754,675 shares, compared to its average volume of 1,425,011. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52. The business has a fifty day moving average of $263.15 and a 200-day moving average of $233.27. The stock has a market cap of $51.51 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.02 and a beta of 0.77. 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 (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies's payout ratio is 53.63%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Susquehanna boosted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. UBS Group upped their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $279.47.

About L3Harris Technologies

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.