Focus Partners Wealth Sells 1,668 Shares of L3Harris Technologies Inc $LHX

Focus Partners Wealth reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 2.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 65,508 shares of the company’s stock after selling 1,668 shares during the quarter. Focus Partners Wealth’s holdings in L3Harris Technologies were worth $13,712,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LHX. Nuveen LLC bought a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $299,157,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after purchasing an additional 709,948 shares during the last quarter. Wellington Management Group LLP grew its holdings in L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after purchasing an additional 557,610 shares during the period. GAMMA Investing LLC increased its position in L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock worth $107,424,000 after buying an additional 510,438 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after buying an additional 311,886 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.5%

LHX opened at $279.22 on Friday. The firm has a market capitalization of $52.24 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $281.67. The company has a fifty day moving average price of $271.08 and a 200-day moving average price of $241.38. 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 (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the business posted $3.24 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is presently 53.63%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent research reports. Susquehanna lifted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. UBS Group lifted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Barclays upped their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Company 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.