Synergy Asset Management LLC Has $4.69 Million Stake in L3Harris Technologies Inc $LHX

Synergy Asset Management LLC boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 216.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,344 shares of the company’s stock after acquiring an additional 10,488 shares during the quarter. Synergy Asset Management LLC’s holdings in L3Harris Technologies were worth $4,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC grew its holdings in shares of L3Harris Technologies by 2.7% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after purchasing an additional 37 shares during the last quarter. Twin Lakes Capital Management LLC boosted its position in L3Harris Technologies by 0.3% in the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after buying an additional 38 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after buying an additional 39 shares in the last quarter. Independence Bank of Kentucky grew its stake in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of L3Harris Technologies by 3.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after buying an additional 40 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies 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 value of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Trading Up 3.7%

Shares of LHX opened at $304.29 on Friday. The stock’s fifty day simple moving average is $287.32 and its 200-day simple moving average is $279.10. The firm has a market capitalization of $56.92 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 1.84 and a beta of 0.65. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company earned $3.34 earnings per share. The company’s 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. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. Wall Street Zen raised L3Harris Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Morgan Stanley raised their target price on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $299.93.

L3Harris Technologies Company 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.