Woodard & Co. Asset Management Group Inc. ADV Acquires New Position in L3Harris Technologies Inc $LHX

Key Points

• Woodard & Co. Asset Management Group Inc. acquired a new stake of 944 shares in L3Harris Technologies, valued at approximately $237,000 in the second quarter.
• Analysts have recently upgraded L3Harris Technologies from a "hold" to a "buy" rating, with several firms raising their target prices, indicating positive expectations for the stock.
• CEO Christopher E. Kubasik sold 83,000 shares of L3Harris on September 12th, resulting in a 36.31% decrease in his position, highlighting recent insider trading activity.

Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 944 shares of the company's stock, valued at approximately $237,000.

Other large investors also recently bought and sold shares of the company. Cyndeo Wealth Partners LLC boosted its holdings in L3Harris Technologies by 2.7% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company's stock valued at $350,000 after purchasing an additional 37 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock valued at $33,000 after purchasing an additional 40 shares during the last quarter. DB Fitzpatrick & Co Inc boosted its holdings in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company's stock valued at $1,116,000 after purchasing an additional 42 shares during the last quarter. Riverbend Wealth Management LLC boosted its holdings in L3Harris Technologies by 4.3% in the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company's stock valued at $258,000 after purchasing an additional 42 shares during the last quarter. Finally, Norway Savings Bank boosted its holdings in L3Harris Technologies by 3.0% in the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company's stock valued at $374,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Robert W. Baird increased their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Truist Financial increased their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays increased their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $287.63.

L3Harris Technologies Trading Down 0.1%

NYSE LHX opened at $283.89 on Friday. 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 firm's fifty day moving average price is $283.22 and its 200 day moving average price is $255.41. The company has a market capitalization of $53.12 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for 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% on a year-over-year basis. During the same period last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio 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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