Spinnaker Trust Purchases 905 Shares of L3Harris Technologies Inc $LHX

Spinnaker Trust boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 29.7% in the second quarter, Holdings Channel.com reports. The firm owned 3,955 shares of the company’s stock after buying an additional 905 shares during the quarter. Spinnaker Trust’s holdings in L3Harris Technologies were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Savvy Advisors Inc. increased its stake in shares of L3Harris Technologies by 22.1% in the 2nd quarter. Savvy Advisors Inc. now owns 2,917 shares of the company’s stock worth $732,000 after acquiring an additional 527 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in shares of L3Harris Technologies by 16.5% during the second quarter. Premier Path Wealth Partners LLC now owns 1,660 shares of the company’s stock valued at $417,000 after purchasing an additional 235 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of L3Harris Technologies by 147.3% during the second quarter. Hantz Financial Services Inc. now owns 27,769 shares of the company’s stock valued at $6,966,000 after purchasing an additional 16,542 shares during the last quarter. Arkadios Wealth Advisors boosted its position in shares of L3Harris Technologies by 416.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 12,246 shares of the company’s stock worth $3,072,000 after purchasing an additional 9,873 shares in the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of L3Harris Technologies by 32.0% in the 2nd quarter. Emerald Advisers LLC now owns 2,444 shares of the company’s stock worth $613,000 after buying an additional 593 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Morgan Stanley lifted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Barclays increased their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada increased 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. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’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 transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $295.20 on Friday. The firm has a fifty day simple moving average of $286.64 and a two-hundred day simple moving average of $260.86. The firm has a market cap of $55.23 billion, a PE ratio of 32.98, a P/E/G ratio of 2.09 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.34 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, November 17th. 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.