L3Harris Technologies Inc $LHX Shares Sold by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 48.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,287 shares of the company’s stock after selling 3,084 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in L3Harris Technologies were worth $824,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of L3Harris Technologies by 11.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,559 shares of the company’s stock worth $326,000 after purchasing an additional 162 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of L3Harris Technologies by 7.9% during the first quarter. Exchange Traded Concepts LLC now owns 4,181 shares of the company’s stock worth $875,000 after purchasing an additional 305 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 38.3% during the first quarter. Cyndeo Wealth Partners LLC now owns 1,359 shares of the company’s stock worth $284,000 after purchasing an additional 376 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of L3Harris Technologies during the first quarter worth about $216,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the topic of a number of research reports. Truist Financial increased their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Robert W. Baird increased their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Barclays increased their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $287.63.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 3.4%

L3Harris Technologies stock opened at $289.76 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The stock has a market cap of $54.21 billion, a PE ratio of 32.38, a P/E/G ratio of 2.19 and a beta of 0.76. The stock’s fifty day moving average is $282.73 and its two-hundred day moving average is $254.39.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the company earned $3.24 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts expect 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. Investors 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 yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

About L3Harris Technologies

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.