Souders Financial Advisors Invests $202,000 in L3Harris Technologies Inc $LHX

Souders Financial Advisors bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 806 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors also recently modified their holdings of the company. Washington Trust Bank raised its position in shares of L3Harris Technologies by 4.6% during the second quarter. Washington Trust Bank now owns 55,527 shares of the company’s stock worth $13,928,000 after purchasing an additional 2,445 shares during the period. Golden State Wealth Management LLC increased its stake in L3Harris Technologies by 65.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 495 shares of the company’s stock worth $124,000 after purchasing an additional 196 shares in the last quarter. HORAN Wealth LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth about $220,000. SouthState Corp lifted its stake in L3Harris Technologies by 3.0% during the second quarter. SouthState Corp now owns 62,294 shares of the company’s stock valued at $15,626,000 after buying an additional 1,799 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its position in shares of L3Harris Technologies by 5.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 63,387 shares of the company’s stock worth $15,863,000 after acquiring an additional 3,187 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Citigroup increased their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Morgan Stanley raised their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $295.63.

L3Harris Technologies Trading Down 0.7%

Shares of NYSE:LHX opened at $285.13 on Friday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $53.33 billion, a P/E ratio of 31.86, a P/E/G ratio of 2.09 and a beta of 0.75. The stock’s 50-day moving average is $287.80 and its 200-day moving average is $263.24.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS 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 company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous 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. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

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.