Blue Trust Inc. Acquires 124 Shares of L3Harris Technologies Inc $LHX

Blue Trust Inc. lifted its stake in L3Harris Technologies Inc (NYSE:LHX) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,876 shares of the company’s stock after buying an additional 124 shares during the period. Blue Trust Inc.’s holdings in L3Harris Technologies were worth $1,223,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fourpath Capital Management LLC lifted its holdings in L3Harris Technologies by 9.7% during the 2nd quarter. Fourpath Capital Management LLC now owns 1,931 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the second quarter worth approximately $235,000. Cyndeo Wealth Partners LLC increased its holdings in shares of L3Harris Technologies by 2.7% during the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares in the last quarter. Horizon Bancorp Inc. IN grew its position in L3Harris Technologies by 233.6% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 714 shares of the company’s stock worth $179,000 after acquiring an additional 500 shares during the last quarter. Finally, Callan Family Office LLC grew its position in L3Harris Technologies by 104.4% during the 2nd quarter. Callan Family Office LLC now owns 5,558 shares of the company’s stock worth $1,394,000 after acquiring an additional 2,839 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 in the last ninety days. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday. Barclays raised their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Susquehanna increased their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a report on Friday, July 25th. Citigroup increased their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.19.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $292.45 on Friday. The firm has a fifty day moving average of $281.74 and a 200-day moving average of $252.65. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.18 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) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

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.