Burling Wealth Partners LLC Sells 1,132 Shares of L3Harris Technologies Inc $LHX

Burling Wealth Partners LLC lowered its stake in L3Harris Technologies Inc (NYSE:LHX) by 21.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,065 shares of the company’s stock after selling 1,132 shares during the period. Burling Wealth Partners LLC’s holdings in L3Harris Technologies were worth $1,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the first quarter worth $26,000. Kiker Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares during the period. Harbor Asset Planning Inc. bought a new stake in L3Harris Technologies in the second quarter worth about $32,000. Finally, Independence Bank of Kentucky grew its stake 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 valued at $33,000 after buying an additional 40 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 3.9%

Shares of L3Harris Technologies stock opened at $288.51 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $53.97 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.09 and a beta of 0.75. The firm’s 50-day moving average is $289.84 and its two-hundred day moving average is $266.02. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LHX shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. UBS Group raised their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Truist Financial raised their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.63.

L3Harris Technologies Profile

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.