L3Harris Technologies Inc $LHX Position Boosted by Washington Trust Bank

Washington Trust Bank grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,527 shares of the company’s stock after purchasing an additional 2,445 shares during the period. L3Harris Technologies comprises about 1.2% of Washington Trust Bank’s holdings, making the stock its 27th biggest holding. Washington Trust Bank’s holdings in L3Harris Technologies were worth $13,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Cyndeo Wealth Partners LLC boosted its stake in L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after purchasing an additional 37 shares during the period. Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% during 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 in the last quarter. DB Fitzpatrick & Co Inc raised its holdings in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after acquiring an additional 42 shares in the last quarter. Riverbend Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 4.3% during the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after purchasing an additional 42 shares in the last quarter. Finally, Klingman & Associates LLC raised 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 valued at $498,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

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 transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Truist Financial upped their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Thirteen investment 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 presently has an average rating of “Moderate Buy” and an average price target of $295.63.

L3Harris Technologies Trading Down 1.4%

LHX stock opened at $287.17 on Thursday. 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 $53.73 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. The company has a fifty day moving average price of $287.63 and a two-hundred day moving average price of $263.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $3.34 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is 51.56%.

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.