L3Harris Technologies Inc $LHX Shares Acquired by D.B. Root & Company LLC

D.B. Root & Company LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 35.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,220 shares of the company’s stock after purchasing an additional 579 shares during the period. D.B. Root & Company LLC’s holdings in L3Harris Technologies were worth $557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gold Investment Management Ltd. increased its position in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after acquiring an additional 904 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after purchasing an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock valued at $926,000 after purchasing an additional 216 shares in the last quarter. Dean Capital Management boosted its position in shares of L3Harris Technologies by 11.5% in the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after buying an additional 986 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of L3Harris Technologies during the second quarter valued at $1,218,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s 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 transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $297.52 on Monday. The firm has a market cap of $55.67 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.17 and a beta of 0.76. The stock’s 50-day moving average is $279.07 and its two-hundred day moving average is $250.10. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $305.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the business earned $3.24 EPS. The firm’s 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. On average, analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid a $1.20 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LHX shares. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Saturday, September 27th. UBS Group upped their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Truist Financial lifted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average 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.