Ransom Advisory Ltd Invests $86,000 in L3Harris Technologies Inc $LHX

Ransom Advisory Ltd purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 413 shares of the company’s stock, valued at approximately $86,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Beacon Capital Management LLC lifted its holdings in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Park Square Financial Group LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $37,000. Cornerstone Planning Group LLC lifted its holdings in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in L3Harris Technologies during the 1st quarter valued at about $39,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LHX shares. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Truist Financial boosted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. 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 has a consensus rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Stock Up 1.7%

Shares of NYSE:LHX opened at $275.39 on Thursday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The company has a 50 day moving average of $270.16 and a 200-day moving average of $240.31. 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 market cap of $51.53 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 1.98 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company earned $3.24 EPS. L3Harris Technologies’s revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is currently 53.63%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,138 shares of L3Harris Technologies stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $39,236,182.56. The trade was a 21.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

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.