L3Harris Technologies Inc $LHX Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI lessened its holdings in L3Harris Technologies Inc (NYSE:LHX) by 61.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,930 shares of the company’s stock after selling 42,547 shares during the quarter. Norris Perne & French LLP MI’s holdings in L3Harris Technologies were worth $8,225,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ethic Inc. boosted its holdings in shares of L3Harris Technologies by 11.8% in the 3rd quarter. Ethic Inc. now owns 16,017 shares of the company’s stock valued at $4,892,000 after buying an additional 1,688 shares during the period. Perigon Wealth Management LLC lifted its holdings in L3Harris Technologies by 2.0% in the third quarter. Perigon Wealth Management LLC now owns 7,263 shares of the company’s stock worth $2,218,000 after acquiring an additional 144 shares during the last quarter. NovaPoint Capital LLC lifted its holdings in L3Harris Technologies by 8.3% in the third quarter. NovaPoint Capital LLC now owns 19,030 shares of the company’s stock worth $5,812,000 after acquiring an additional 1,462 shares during the last quarter. Bard Financial Services Inc. boosted its stake in L3Harris Technologies by 2.0% in the third quarter. Bard Financial Services Inc. now owns 5,050 shares of the company’s stock valued at $1,542,000 after acquiring an additional 100 shares during the period. Finally, FSM Wealth Advisors LLC grew its holdings in shares of L3Harris Technologies by 5.4% during the third quarter. FSM Wealth Advisors LLC now owns 1,240 shares of the company’s stock valued at $379,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The stock was 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 approximately $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 can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on LHX. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Truist Financial increased their target price on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. BNP Paribas Exane initiated coverage on shares of L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target for the company. 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of L3Harris Technologies in a report on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.50.

L3Harris Technologies Stock Performance

LHX stock opened at $296.69 on Monday. The company has a 50-day simple moving average of $286.85 and a 200 day simple moving average of $277.91. The company has a market capitalization of $55.50 billion, a P/E ratio of 31.87, a PEG ratio of 2.16 and a beta of 0.65. 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 Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.