L3Harris Technologies Inc $LHX Shares Acquired by Kingsman Wealth Management Inc.

Kingsman Wealth Management Inc. boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 237.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,409 shares of the company’s stock after purchasing an additional 2,400 shares during the quarter. Kingsman Wealth Management Inc.’s holdings in L3Harris Technologies were worth $1,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies during the first quarter worth about $26,000. Kiker Wealth Management LLC raised its stake in 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 acquiring an additional 63 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies during the 2nd quarter worth approximately $32,000. Independence Bank of Kentucky grew its stake in shares of 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 purchasing an additional 40 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies in the second quarter valued at approximately $34,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $295.19 on Wednesday. The stock has a fifty day moving average price of $287.00 and a 200 day moving average price of $278.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market cap of $55.22 billion, a PE ratio of 31.71, a P/E/G ratio of 2.15 and a beta of 0.65. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its 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. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.L3Harris Technologies’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s dividend payout ratio is 51.56%.

Analyst Ratings Changes

Several analysts have recently commented on LHX shares. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Citigroup initiated coverage on shares of L3Harris Technologies in a research report on Thursday, December 11th. They issued a “buy” rating and a $331.00 price objective for the company. Morgan Stanley lifted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, BNP Paribas Exane assumed coverage on L3Harris Technologies in a research note on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $295.50.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’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 transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.