Cetera Investment Advisers Acquires 2,039 Shares of L3Harris Technologies Inc $LHX

Cetera Investment Advisers boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.3% during the second quarter, HoldingsChannel.com reports. The fund owned 91,243 shares of the company’s stock after purchasing an additional 2,039 shares during the period. Cetera Investment Advisers’ holdings in L3Harris Technologies were worth $22,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Clearstead Trust LLC acquired a new stake in L3Harris Technologies during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the 1st quarter worth approximately $26,000. 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 worth $27,000 after buying an additional 63 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $32,000. Finally, Independence Bank of Kentucky boosted its stake in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on LHX shares. Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Truist Financial boosted their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley raised their price objective 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, UBS Group lifted their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $295.29.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $285.48 on Wednesday. The business has a fifty day moving average of $290.76 and a 200-day moving average of $268.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The firm has a market cap of $53.40 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (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 the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company earned $3.34 EPS. The firm’s quarterly revenue 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 research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid 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%.

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.