Truist Financial Corp Has $32.78 Million Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Truist Financial Corp increased its stake in L3Harris Technologies Inc by 5.0%, holding 130,680 shares valued at approximately $32.78 million as of the latest SEC filing.
• Analysts have raised their price targets for L3Harris Technologies, with Susquehanna setting a target of $320.00 and Citigroup increasing it to $323.00, reflecting a positive outlook on the stock.
• L3Harris Technologies recently reported an EPS of $2.78 for the last quarter, surpassing analyst expectations of $2.48, indicating strong performance within the defense sector.

Truist Financial Corp lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 130,680 shares of the company's stock after purchasing an additional 6,279 shares during the quarter. Truist Financial Corp owned 0.07% of L3Harris Technologies worth $32,780,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trivium Point Advisory LLC increased its position in L3Harris Technologies by 8.7% in the 2nd quarter. Trivium Point Advisory LLC now owns 2,320 shares of the company's stock valued at $582,000 after acquiring an additional 186 shares in the last quarter. HCR Wealth Advisors increased its holdings in shares of L3Harris Technologies by 1.3% in the second quarter. HCR Wealth Advisors now owns 12,281 shares of the company's stock valued at $3,081,000 after purchasing an additional 159 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in shares of L3Harris Technologies by 4.6% in the second quarter. Capital Investment Advisors LLC now owns 7,687 shares of the company's stock valued at $1,928,000 after purchasing an additional 335 shares in the last quarter. Kavar Capital Partners Group LLC bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $201,000. Finally, Janney Montgomery Scott LLC boosted its position in L3Harris Technologies by 20.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company's stock valued at $48,508,000 after buying an additional 33,019 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Barclays boosted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. 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 research report on Friday, July 25th. Truist Financial lifted their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Citigroup increased their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Price Performance

LHX opened at $295.95 on Friday. The company has a fifty day simple moving average of $278.50 and a 200 day simple moving average of $248.98. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $55.37 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.20 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $305.94.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company's revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.24 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a $1.20 dividend. 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 payout ratio is presently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 owned 145,578 shares of the company's stock, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 in the last ninety days. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Company 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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