Wilmington Savings Fund Society FSB Sells 1,149 Shares of L3Harris Technologies Inc $LHX

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in L3Harris Technologies by 16.4%, selling 1,149 shares and now owns 5,845 shares worth approximately $1.466 million.
• L3Harris Technologies reported $2.78 earnings per share for the last quarter, exceeding expectations by $0.30, with total revenue reaching $5.43 billion.
• The company announced a quarterly dividend of $1.20 per share, yielding 1.7%, with payment scheduled for December 5th to investors on record by November 17th.

Wilmington Savings Fund Society FSB lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 16.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,845 shares of the company's stock after selling 1,149 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in L3Harris Technologies were worth $1,466,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Gold Investment Management Ltd. boosted its position in L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company's stock worth $437,000 after purchasing an additional 904 shares during the period. BankPlus Trust Department boosted its position in L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company's stock worth $1,468,000 after purchasing an additional 379 shares during the period. Janney Montgomery Scott LLC boosted its position in L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company's stock worth $48,508,000 after purchasing an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. boosted its position in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after purchasing an additional 216 shares during the period. Finally, US Bancorp DE boosted its position in shares of L3Harris Technologies by 1.6% in the second quarter. US Bancorp DE now owns 344,112 shares of the company's stock valued at $86,317,000 after acquiring an additional 5,526 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $289.76 on Thursday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The firm has a market capitalization of $54.21 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.19 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 stock has a fifty day moving average price of $282.73 and a two-hundred day moving average price of $254.39.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $3.24 earnings per share. 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. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Susquehanna increased their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. UBS Group increased their price objective on 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 increased their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $287.63.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies 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 directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 195,138 shares of company stock valued at $53,571,774 in the last three months. 0.72% of the stock is owned by company 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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