Waypoint Wealth Partners Inc. Takes Position in L3Harris Technologies Inc $LHX

Key Points

• Waypoint Wealth Partners Inc. acquired 1,201 shares of L3Harris Technologies valued at approximately $301,000 in the second quarter, indicating growing interest among institutional investors.
• Analysts have recently increased their price targets for L3Harris Technologies, with Citigroup raising it from $300 to $323, reflecting positive market sentiment and a consensus rating of "Moderate Buy."
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, with an annual yield of 1.7%, showcasing the company's ongoing commitment to returning value to shareholders.

Waypoint Wealth Partners Inc. acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,201 shares of the company's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its position in L3Harris Technologies by 9.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 49,157 shares of the company's stock valued at $12,571,000 after purchasing an additional 4,149 shares during the period. Atticus Wealth Management LLC increased its stake in L3Harris Technologies by 115.0% during the second quarter. Atticus Wealth Management LLC now owns 1,279 shares of the company's stock worth $321,000 after purchasing an additional 684 shares during the period. Wedmont Private Capital increased its stake in L3Harris Technologies by 6.3% during the second quarter. Wedmont Private Capital now owns 1,179 shares of the company's stock worth $305,000 after purchasing an additional 70 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in L3Harris Technologies by 1.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,861 shares of the company's stock worth $5,734,000 after purchasing an additional 418 shares during the period. Finally, Focus Financial Network Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter worth about $241,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Trading Up 0.0%

NYSE:LHX traded up $0.09 on Monday, hitting $284.03. 318,177 shares of the stock were exchanged, compared to its average volume of 1,379,053. The stock has a market cap of $53.14 billion, a PE ratio of 31.68, a PEG ratio of 2.08 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $273.51 and a 200-day moving average of $244.49. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $286.81.

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

L3Harris Technologies Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio is presently 53.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays increased their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Truist Financial lifted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $279.47.

Insider Buying and Selling at L3Harris Technologies

In other 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 value 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

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.