L3Harris Technologies Inc $LHX Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,952 shares of the company’s stock after selling 313 shares during the quarter. NewEdge Advisors LLC’s holdings in L3Harris Technologies were worth $3,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after buying an additional 1,236 shares during the period. Focus Partners Wealth increased its stake in L3Harris Technologies by 5.3% during the fourth quarter. Focus Partners Wealth now owns 67,176 shares of the company’s stock worth $14,266,000 after acquiring an additional 3,375 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in L3Harris Technologies during the fourth quarter worth about $232,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in L3Harris Technologies by 26.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,073 shares of the company’s stock valued at $30,085,000 after purchasing an additional 29,644 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.2%

Shares of NYSE LHX opened at $270.55 on Wednesday. The company has a market cap of $50.62 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.00 and a beta of 0.76. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52. 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 stock’s 50 day simple moving average is $269.72 and its 200 day simple moving average is $240.07.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm 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%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.24 EPS. 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 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid 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 yield of 1.8%. L3Harris Technologies’s payout ratio is presently 53.63%.

Analysts Set New Price Targets

LHX has been the subject of a number of recent research reports. Barclays increased their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Truist Financial raised their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Thirteen equities 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, the company currently has an average rating of “Moderate Buy” and an average price target of $279.47.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,138 shares of L3Harris Technologies stock in a transaction on Monday, August 11th. The stock was sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at $39,236,182.56. The trade was a 21.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 145,199 shares of company stock worth $38,555,071. 0.72% of the stock is owned by insiders.

L3Harris Technologies 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.