Royal Fund Management LLC Purchases Shares of 4,121 L3Harris Technologies Inc $LHX

Royal Fund Management LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the third quarter, Holdings Channel reports. The fund acquired 4,121 shares of the company’s stock, valued at approximately $1,259,000.

Several other large investors also recently made changes to their positions in LHX. Kiker Wealth Management LLC boosted its holdings in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of L3Harris Technologies during the second quarter worth approximately $32,000. Independence Bank of Kentucky raised its position in shares of 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 purchasing an additional 40 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $34,000. Finally, Salomon & Ludwin LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at $34,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $346.74 on Monday. The company has a market capitalization of $64.86 billion, a PE ratio of 37.24, a PEG ratio of 2.17 and a beta of 0.66. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $295.67 and its 200-day moving average price is $285.24. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $361.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Royal Bank Of Canada upped their price objective on shares of L3Harris Technologies from $315.00 to $360.00 and gave the stock a “sector perform” rating in a report on Wednesday. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target on the stock. Cowen reissued a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, January 12th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $315.73.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated 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. The trade was a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by 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.