L3Harris Technologies Inc $LHX Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,261 shares of the company’s stock after selling 1,099 shares during the period. L3Harris Technologies accounts for approximately 1.4% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 29th largest holding. Matrix Asset Advisors Inc. NY’s holdings in L3Harris Technologies were worth $13,862,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in shares of L3Harris Technologies by 79.5% in 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 in the last quarter. Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in shares of L3Harris Technologies by 323.3% in 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 in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $292.45 on Friday. The stock’s 50 day moving average price is $281.74 and its 200 day moving average price is $252.94. The firm has a market capitalization of $54.72 billion, a PE ratio of 32.68, a price-to-earnings-growth 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 Inc has a one year low of $193.09 and a one year high of $308.12.

L3Harris Technologies (NYSE:LHX) last released 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 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 analyst estimates of $5.31 billion. During the same period in the previous year, the company posted $3.24 EPS. L3Harris Technologies’s revenue for the quarter 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, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on 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. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Barclays lifted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna lifted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Robert W. Baird lifted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

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.