Johnson Investment Counsel Inc. Has $908,000 Stock Holdings in L3Harris Technologies Inc $LHX

Johnson Investment Counsel Inc. increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 22.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,621 shares of the company’s stock after buying an additional 674 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $908,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC grew its position in L3Harris Technologies by 2.7% during the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares in the last quarter. Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares in the last quarter. DB Fitzpatrick & Co Inc grew its position in L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after buying an additional 42 shares in the last quarter. Norway Savings Bank grew its position in L3Harris Technologies by 3.0% during the second quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock worth $374,000 after buying an additional 44 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its position in L3Harris Technologies by 3.7% during the second quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock worth $314,000 after buying an additional 45 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 2.3%

Shares of LHX opened at $300.03 on Wednesday. The company has a market capitalization of $56.14 billion, a P/E ratio of 33.52, a PEG ratio of 2.14 and a beta of 0.76. 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 Inc has a one year low of $193.09 and a one year high of $308.12. The business’s 50 day simple moving average is $282.49 and its 200-day simple moving average is $254.14.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is 53.63%.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’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 completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Barclays lifted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Susquehanna lifted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a report on Friday, July 25th. Robert W. Baird lifted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

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.