Horrell Capital Management Inc. Grows Position in L3Harris Technologies Inc $LHX

Horrell Capital Management Inc. raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 27,427 shares of the company’s stock after purchasing an additional 597 shares during the period. L3Harris Technologies accounts for about 2.8% of Horrell Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Horrell Capital Management Inc.’s holdings in L3Harris Technologies were worth $6,880,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Kiker Wealth Management LLC lifted its position in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the first quarter valued at approximately $26,000. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies in the second quarter worth approximately $32,000. Finally, Independence Bank of Kentucky increased 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 purchasing an additional 40 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.5%

Shares of NYSE:LHX opened at $301.59 on Wednesday. The company has a 50-day moving average price of $288.97 and a 200 day moving average price of $265.62. 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 12 month low of $193.09 and a 12 month high of $308.12. The company has a market cap of $56.41 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating 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 analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $3.34 EPS. L3Harris Technologies’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. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is 51.56%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on LHX shares. Citigroup lifted 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. Truist Financial boosted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. UBS Group boosted their price target on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.63.

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.