Synergy Asset Management LLC Acquires Shares of 4,856 L3Harris Technologies Inc $LHX

Key Points

• Synergy Asset Management LLC acquired 4,856 shares of L3Harris Technologies Inc, worth approximately $1,218,000, during the second quarter.
• L3Harris reported a quarterly earnings per share of $2.78, exceeding estimates, and anticipates a fiscal year 2025 EPS guidance of $10.400-$10.600.
• The company announced a quarterly dividend of $1.20 per share, with a yield of 1.6%, reflecting a dividend payout ratio of 53.63%.

Synergy Asset Management LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,856 shares of the company's stock, valued at approximately $1,218,000.

Other institutional investors have also bought and sold shares of the company. Clearstead Trust LLC bought a new position in L3Harris Technologies during the first quarter valued at $26,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies during the first quarter valued at $26,000. Beacon Capital Management LLC lifted its position in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after acquiring an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 1.5%

Shares of LHX opened at $295.95 on Friday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $305.94. The company has a 50-day moving average of $278.50 and a 200 day moving average of $248.98. The firm has a market capitalization of $55.37 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Analyst Upgrades and Downgrades

LHX has been the subject of several analyst reports. Barclays raised their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Truist Financial raised their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Citigroup raised their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $279.47.

Insider Buying and Selling

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

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.

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.