Burling Wealth Partners LLC Sells 1,132 Shares of L3Harris Technologies Inc $LHX

Burling Wealth Partners LLC trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,065 shares of the company’s stock after selling 1,132 shares during the quarter. Burling Wealth Partners LLC’s holdings in L3Harris Technologies were worth $1,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at $299,157,000. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares in the last quarter. AGF Management Ltd. purchased a new position in L3Harris Technologies during the second quarter valued at $324,940,000. Boston Partners grew its holdings in L3Harris Technologies by 71.8% during the second quarter. Boston Partners now owns 1,999,316 shares of the company’s stock valued at $503,434,000 after purchasing an additional 835,651 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after buying an additional 709,948 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $288.51 on Friday. 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 firm has a fifty day moving average price of $289.84 and a 200 day moving average price of $266.02. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The firm has a market cap of $53.97 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last announced 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 net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company earned $3.34 EPS. The business’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, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LHX shares. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Morgan Stanley upped their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Truist Financial lifted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings lowered L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $295.63.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies 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.