Hohimer Wealth Management LLC Makes New Investment in L3Harris Technologies Inc $LHX

Hohimer Wealth Management LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,502 shares of the company’s stock, valued at approximately $1,011,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Carret Asset Management LLC grew its stake in L3Harris Technologies by 7.0% during the 3rd quarter. Carret Asset Management LLC now owns 19,559 shares of the company’s stock valued at $4,631,000 after acquiring an additional 1,272 shares in the last quarter. M Holdings Securities Inc. acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $504,000. Avantax Planning Partners Inc. increased its holdings in shares of L3Harris Technologies by 2.6% in the 3rd quarter. Avantax Planning Partners Inc. now owns 1,796 shares of the company’s stock valued at $425,000 after purchasing an additional 46 shares during the period. Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 5.5% in the third quarter. Brighton Jones LLC now owns 4,143 shares of the company’s stock worth $981,000 after purchasing an additional 216 shares in the last quarter. Finally, Rayburn West Financial Services LLC purchased a new stake in shares of L3Harris Technologies in the third quarter worth approximately $343,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LHX shares. Melius Research cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 8th. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Citigroup started coverage on shares of L3Harris Technologies in a research note on Monday. They set a “buy” rating and a $348.00 target price for the company. Finally, Jefferies Financial Group cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $340.93.

L3Harris Technologies Stock Performance

LHX stock opened at $271.60 on Tuesday. The firm has a 50 day moving average of $250.33 and a two-hundred day moving average of $302.80. L3Harris Technologies Inc has a 12 month low of $232.34 and a 12 month high of $379.23. The company has a market capitalization of $50.57 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.59 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm earned $2.70 EPS. L3Harris Technologies’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 12.10 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is presently 46.64%.

About L3Harris Technologies

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies.

The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.

L3Harris was formed in 2019 through the merger of L3 Technologies and Harris Corporation.