Ritholtz Wealth Management Purchases 3,592 Shares of L3Harris Technologies Inc $LHX

Ritholtz Wealth Management lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 231.1% in the third quarter, Holdings Channel reports. The fund owned 5,146 shares of the company’s stock after purchasing an additional 3,592 shares during the quarter. Ritholtz Wealth Management’s holdings in L3Harris Technologies were worth $1,572,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LHX. Kiker Wealth Management LLC grew its stake in L3Harris Technologies by 137.0% in the 2nd 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. Salomon & Ludwin LLC purchased a new position in L3Harris Technologies in the third quarter worth $34,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies during the second quarter valued at about $34,000. Harbor Asset Planning Inc. purchased a new stake in shares of L3Harris Technologies during the second quarter valued at $32,000. Finally, Independence Bank of Kentucky raised its stake in shares of L3Harris Technologies by 44.4% in 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 last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group upped their price objective on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Truist Financial set a $364.00 price objective on L3Harris Technologies in a research note on Wednesday. Finally, Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $315.00 to $360.00 and gave the company a “sector perform” rating in a report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $315.73.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 1.9%

Shares of L3Harris Technologies stock opened at $346.74 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The stock has a market cap of $64.86 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $361.59. The company has a 50-day moving average of $295.67 and a two-hundred day moving average of $285.24.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter 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, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

About L3Harris Technologies

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.