Greenfield Savings Bank Sells 71 Shares of L3Harris Technologies Inc $LHX

Greenfield Savings Bank lowered its stake in L3Harris Technologies Inc (NYSE:LHX) by 2.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,361 shares of the company’s stock after selling 71 shares during the period. Greenfield Savings Bank’s holdings in L3Harris Technologies were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the 1st quarter valued at $26,000. Beacon Capital Management LLC lifted its position in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies during the fourth quarter worth $37,000. Finally, Cornerstone Planning Group LLC increased its position in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were 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 of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 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.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $279.22 on Friday. The firm’s 50 day simple moving average is $271.08 and its 200-day simple moving average is $241.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $281.67. The firm has a market cap of $52.24 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current 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 issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s payout ratio is presently 53.63%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LHX shares. Citigroup raised their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Susquehanna increased their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Robert W. Baird boosted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Royal Bank Of Canada raised their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Thirteen 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.47.

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.