Stratos Wealth Partners LTD. Has $2.28 Million Holdings in L3Harris Technologies Inc $LHX

Key Points

• Stratos Wealth Partners LTD. reduced its stake in L3Harris Technologies by 14.3%, holding 9,097 shares valued at $2.28 million as of the end of the recent quarter.
• CEO Christopher E. Kubasik sold 83,000 shares of company stock for approximately $23.23 million, resulting in a 36.31% decrease in his ownership.
• L3Harris Technologies recently declared a quarterly dividend of $1.20 per share, with a record date of November 17th and an annual yield of 1.7%.

Stratos Wealth Partners LTD. decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,097 shares of the company's stock after selling 1,513 shares during the period. Stratos Wealth Partners LTD.'s holdings in L3Harris Technologies were worth $2,282,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Kiker Wealth Management LLC raised its stake in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock valued at $27,000 after purchasing an additional 63 shares during the period. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies during the first quarter worth about $26,000. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter valued at approximately $32,000. Finally, Independence Bank of Kentucky lifted its stake in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock valued at $33,000 after acquiring an additional 40 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $283.89 on Monday. The firm has a market capitalization of $53.12 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76. 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 firm's fifty day moving average price is $283.22 and its two-hundred day moving average price is $256.04. 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 announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies's payout ratio is 53.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. Morgan Stanley raised their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 15th. Truist Financial increased their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Barclays boosted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Citigroup increased 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. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $287.63.

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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