HBK Sorce Advisory LLC Has $343,000 Holdings in L3Harris Technologies Inc $LHX

HBK Sorce Advisory LLC reduced its holdings in L3Harris Technologies Inc (NYSE:LHX) by 40.1% during the 2nd quarter, Holdings Channel reports. The fund owned 1,369 shares of the company’s stock after selling 917 shares during the quarter. HBK Sorce Advisory LLC’s holdings in L3Harris Technologies were worth $343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Gold Investment Management Ltd. lifted its position in L3Harris Technologies by 108.4% during the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after buying an additional 904 shares in the last quarter. BankPlus Trust Department lifted its position in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after purchasing an additional 379 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after purchasing an additional 33,019 shares in the last quarter. US Bancorp DE lifted its position in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after purchasing an additional 5,526 shares in the last quarter. Finally, Dean Capital Management lifted its holdings in L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after buying an additional 986 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Robert W. Baird upped their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Friday. Morgan Stanley upped their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.31.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Down 2.3%

NYSE:LHX opened at $289.07 on Friday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The business’s 50-day moving average price is $286.92 and its two-hundred day moving average price is $261.61. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $54.08 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.09 and a beta of 0.76.

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, beating analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

About L3Harris Technologies

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.