Vigilare Wealth Management Invests $563,000 in L3Harris Technologies Inc $LHX

Key Points

• Vigilare Wealth Management invested approximately $563,000 in L3Harris Technologies, acquiring 2,243 shares during the 2nd quarter as reported in its latest SEC filing.
• L3Harris Technologies saw its stock increase by 3.0% and reported earnings of $2.78 per share, surpassing analysts' estimates of $2.48.
• The company announced a quarterly dividend of $1.20 per share, reflecting a 1.6% yield and maintaining a dividend payout ratio of 53.63%.

Vigilare Wealth Management acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,243 shares of the company's stock, valued at approximately $563,000.

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after buying an additional 3,001 shares during the last quarter. Rhumbline Advisers grew its stake in shares of L3Harris Technologies by 4.4% during the first quarter. Rhumbline Advisers now owns 337,066 shares of the company's stock valued at $70,551,000 after buying an additional 14,295 shares during the last quarter. Czech National Bank boosted its holdings in shares of L3Harris Technologies by 5.2% in the first quarter. Czech National Bank now owns 43,252 shares of the company's stock valued at $9,053,000 after purchasing an additional 2,128 shares during the period. NBC Securities Inc. purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $552,000. Finally, Gradient Investments LLC boosted its holdings in shares of L3Harris Technologies by 1.6% in the first quarter. Gradient Investments LLC now owns 57,616 shares of the company's stock valued at $12,060,000 after purchasing an additional 912 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 3.0%

L3Harris Technologies stock opened at $305.76 on Wednesday. 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 firm has a market cap of $57.21 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.17 and a beta of 0.76. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $305.94. The business has a fifty day moving average of $277.40 and a two-hundred day moving average of $248.05.

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

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LHX shares. Robert W. Baird boosted their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Barclays boosted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Susquehanna boosted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" 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 company. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

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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