L3Harris Technologies Inc $LHX Shares Sold by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 74.1% in the second quarter, Holdings Channel reports. The fund owned 1,952 shares of the company’s stock after selling 5,591 shares during the period. Commonwealth Retirement Investments LLC’s holdings in L3Harris Technologies were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gold Investment Management Ltd. raised its position in shares of L3Harris Technologies by 108.4% during the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares during the period. BankPlus Trust Department raised its position in shares of L3Harris Technologies by 6.9% during the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after buying an additional 379 shares during the period. Janney Montgomery Scott LLC raised its position in shares of L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after buying an additional 33,019 shares during the period. US Bancorp DE grew its holdings in shares of L3Harris Technologies by 1.6% during the 2nd 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 during the period. Finally, Dean Capital Management grew its holdings in shares of 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 purchasing an additional 986 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the subject of a number of research analyst reports. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday. Robert W. Baird increased their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Morgan Stanley increased their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Truist Financial increased their price target on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $295.63.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies 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 transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

LHX opened at $290.77 on Wednesday. The stock’s 50-day moving average price is $287.43 and its 200 day moving average price is $262.92. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. 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 cap of $54.40 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.09 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm 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. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s payout ratio is presently 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.