Argonautica Private Wealth Management Inc. Sells 279 Shares of L3Harris Technologies Inc $LHX

Argonautica Private Wealth Management Inc. trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,080 shares of the company’s stock after selling 279 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in L3Harris Technologies were worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cyndeo Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 2.7% in 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 during the last quarter. Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the last quarter. DB Fitzpatrick & Co Inc lifted its stake in shares of L3Harris Technologies by 1.0% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after buying an additional 42 shares during the last quarter. Riverbend Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 4.3% in the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after buying an additional 42 shares during the last quarter. Finally, Klingman & Associates LLC lifted its stake in shares of L3Harris Technologies by 2.2% in the second quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock worth $498,000 after buying an additional 42 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction 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 approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock valued at $53,571,774. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LHX shares. Barclays boosted their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.63.

L3Harris Technologies Price Performance

NYSE:LHX opened at $292.39 on Wednesday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The stock has a market cap of $54.71 billion, a P/E ratio of 32.67, a PEG ratio of 2.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a fifty day moving average price of $284.08 and a 200 day moving average price of $256.91.

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, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the prior year, the company posted $3.24 EPS. The business’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. Analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis 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.