Truvestments Capital LLC Has $1.24 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Truvestments Capital LLC decreased its stake in L3Harris Technologies by 58.3%, now holding 5,911 shares valued at approximately $1.24 million after selling 8,271 shares in the first quarter.
• L3Harris Technologies reported $2.78 earnings per share for the last quarter, exceeding analysts' expectations, with a quarterly revenue of $5.43 billion.
• The company announced a $1.20 quarterly dividend, set to be paid on September 22nd, with a dividend yield of 1.7% and a payout ratio of 53.63%.

Truvestments Capital LLC decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,911 shares of the company's stock after selling 8,271 shares during the quarter. Truvestments Capital LLC's holdings in L3Harris Technologies were worth $1,237,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Triad Wealth Partners LLC grew its position in shares of L3Harris Technologies by 35.2% during the 1st quarter. Triad Wealth Partners LLC now owns 2,733 shares of the company's stock worth $572,000 after buying an additional 711 shares during the period. CreativeOne Wealth LLC grew its position in shares of L3Harris Technologies by 5.7% during the 1st quarter. CreativeOne Wealth LLC now owns 3,908 shares of the company's stock worth $818,000 after buying an additional 211 shares during the period. Gabelli Funds LLC grew its position in shares of L3Harris Technologies by 4.6% during the 1st quarter. Gabelli Funds LLC now owns 95,674 shares of the company's stock worth $20,026,000 after buying an additional 4,250 shares during the period. Potomac Fund Management Inc. ADV grew its position in shares of L3Harris Technologies by 15.1% during the 1st quarter. Potomac Fund Management Inc. ADV now owns 7,891 shares of the company's stock worth $1,690,000 after buying an additional 1,037 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of L3Harris Technologies by 946.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after buying an additional 709,948 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Up 0.6%

L3Harris Technologies stock opened at $277.91 on Wednesday. The stock has a market capitalization of $52.00 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52. 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 company has a 50 day moving average of $264.63 and a 200-day moving average of $234.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given 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 of this dividend is Friday, September 5th. L3Harris Technologies's payout ratio is currently 53.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LHX shares. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Susquehanna lifted their price objective 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. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,138 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,236,182.56. The trade was a 21.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 145,199 shares of company stock valued at $38,555,071 over the last 90 days. Insiders own 0.72% of the company's stock.

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.

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