Cyndeo Wealth Partners LLC Has $350,000 Position in L3Harris Technologies Inc $LHX

Cyndeo Wealth Partners LLC grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,396 shares of the company’s stock after acquiring an additional 37 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in L3Harris Technologies were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Horizon Bancorp Inc. IN boosted its holdings 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. Callan Family Office LLC boosted its holdings 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. Capital Advisors Ltd. LLC boosted its holdings in L3Harris Technologies by 9.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 525 shares of the company’s stock worth $132,000 after acquiring an additional 46 shares during the last quarter. Leo Wealth LLC purchased a new position in L3Harris Technologies during the 2nd quarter worth $292,000. Finally, US Bancorp DE boosted its holdings in L3Harris Technologies by 1.6% during the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after acquiring an additional 5,526 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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 dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 195,138 shares of company stock worth $53,571,774 in the last quarter. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their target price 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. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Barclays lifted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Trading Down 1.9%

Shares of L3Harris Technologies stock opened at $292.45 on Friday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The stock’s 50-day simple moving average is $281.74 and its 200 day simple moving average is $252.94. The stock has a market capitalization of $54.72 billion, a P/E ratio of 32.68, a P/E/G ratio of 2.14 and a beta of 0.76. 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the business posted $3.24 earnings per share. The company’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. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

About L3Harris Technologies

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.