L3Harris Technologies Inc $LHX Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY reduced its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 25.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 41,442 shares of the company’s stock after selling 13,819 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in L3Harris Technologies were worth $12,657,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in LHX. Somerset Trust Co increased its holdings in shares of L3Harris Technologies by 0.9% in the third quarter. Somerset Trust Co now owns 19,710 shares of the company’s stock valued at $6,020,000 after purchasing an additional 171 shares during the period. USA Financial Formulas purchased a new position in L3Harris Technologies in the 3rd quarter valued at $612,000. CWC Advisors LLC. increased its stake in L3Harris Technologies by 3.1% in the 3rd quarter. CWC Advisors LLC. now owns 4,382 shares of the company’s stock valued at $1,338,000 after buying an additional 132 shares during the period. Focus Financial Network Inc. raised its position in L3Harris Technologies by 8.6% during the 3rd quarter. Focus Financial Network Inc. now owns 1,043 shares of the company’s stock worth $319,000 after buying an additional 83 shares during the last quarter. Finally, Centurion Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter worth $239,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $287.74 on Monday. The stock has a 50-day moving average price of $286.13 and a two-hundred day moving average price of $276.05. The company has a market cap of $53.82 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.09 and a beta of 0.65. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company earned $3.34 EPS. 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 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of L3Harris Technologies in a research note on Thursday, December 11th. They set a “buy” rating and a $331.00 price target on the stock. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, UBS Group lifted their price target on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $295.50.

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.