WealthBridge Investment Counsel Inc. Buys 1,270 Shares of L3Harris Technologies Inc $LHX

Key Points

• WealthBridge Investment Counsel Inc. increased its holdings in L3Harris Technologies Inc by 4.9% in Q2, acquiring an additional 1,270 shares, bringing its total to 27,298 shares valued at approximately $6.8 million.
• The CEO, Christopher E. Kubasik, sold 83,000 shares at an average price of $279.90, reducing his shareholding by 36.31% to 145,578 shares valued at about $40.7 million.
• L3Harris Technologies recently raised its EPS guidance for FY 2025 to 10.400-10.600, with analysts predicting an EPS of 11.12 for the current fiscal year.

WealthBridge Investment Counsel Inc. lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,298 shares of the company's stock after purchasing an additional 1,270 shares during the quarter. L3Harris Technologies comprises approximately 2.2% of WealthBridge Investment Counsel Inc.'s portfolio, making the stock its 22nd largest holding. WealthBridge Investment Counsel Inc.'s holdings in L3Harris Technologies were worth $6,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in L3Harris Technologies in the 1st quarter worth about $299,157,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of L3Harris Technologies by 946.6% during the first 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after purchasing an additional 557,610 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after acquiring an additional 510,438 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after buying an additional 311,886 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares in the company, 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 SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 195,138 shares of company stock worth $53,571,774. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on LHX. Royal Bank Of Canada boosted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Truist Financial boosted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, UBS Group increased their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Trading Up 0.3%

LHX opened at $283.67 on Friday. The firm has a market capitalization of $53.07 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76. 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's 50 day simple moving average is $273.51 and its two-hundred day simple moving average is $244.04. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $286.81.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

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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