Cornerstone Select Advisors LLC Trims Stock Position in L3Harris Technologies Inc $LHX

Cornerstone Select Advisors LLC lessened its holdings in L3Harris Technologies Inc (NYSE:LHX) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,740 shares of the company’s stock after selling 240 shares during the period. L3Harris Technologies comprises approximately 1.3% of Cornerstone Select Advisors LLC’s holdings, making the stock its 28th biggest position. Cornerstone Select Advisors LLC’s holdings in L3Harris Technologies were worth $1,440,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. AE Wealth Management LLC increased its stake in shares of L3Harris Technologies by 66.6% in the 1st quarter. AE Wealth Management LLC now owns 4,516 shares of the company’s stock worth $945,000 after purchasing an additional 1,806 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in L3Harris Technologies by 7.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,456 shares of the company’s stock worth $4,072,000 after purchasing an additional 1,419 shares during the period. Cetera Investment Advisers lifted its position in L3Harris Technologies by 35.2% during the first quarter. Cetera Investment Advisers now owns 89,204 shares of the company’s stock valued at $18,671,000 after purchasing an additional 23,231 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in L3Harris Technologies by 22.9% during the first quarter. Assetmark Inc. now owns 22,831 shares of the company’s stock valued at $4,779,000 after purchasing an additional 4,259 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $277.70 on Friday. The firm has a market cap of $51.94 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 2.09 and a beta of 0.75. The firm has a fifty day moving average price of $291.00 and a 200 day moving average price of $269.10. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two 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.

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 Announces Dividend

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 Ratings Changes

LHX has been the topic of several recent research reports. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Barclays lifted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a research note on Wednesday. BNP Paribas Exane assumed coverage on shares of L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 target price on the stock. Finally, Truist Financial increased their price target on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $295.29.

Insiders Place Their Bets

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

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.