TD Private Client Wealth LLC Grows Stock Position in L3Harris Technologies Inc $LHX

Key Points

• TD Private Client Wealth LLC increased its stake in L3Harris Technologies by 14.2% during the 2nd quarter, bringing its total holdings to 10,343 shares valued at approximately $2.59 million.
• CEO Christopher E. Kubasik sold 83,000 shares of the company for about $23.23 million, resulting in a 36.31% decrease in his ownership stake.
• L3Harris Technologies reported strong quarterly earnings, with an EPS of $2.78, exceeding analysts' expectations, and has set a FY 2025 guidance of 10.400-10.600 EPS.

TD Private Client Wealth LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,343 shares of the company's stock after acquiring an additional 1,286 shares during the period. TD Private Client Wealth LLC's holdings in L3Harris Technologies were worth $2,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Clearstead Trust LLC purchased a new stake in L3Harris Technologies in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies during the first quarter valued at about $26,000. Beacon Capital Management LLC raised its stake in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the period. Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $37,000. Finally, Cornerstone Planning Group LLC boosted its position 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 purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $284.27 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $53.19 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. The stock's 50-day moving average is $274.85 and its two-hundred day moving average is $245.49. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $288.23.

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, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the company posted $3.24 earnings per share. The business'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. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed 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 was Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research analyst reports. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Truist Financial increased their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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