L3Harris Technologies Inc $LHX Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,585 shares of the company’s stock after selling 7,818 shares during the period. L3Harris Technologies accounts for 1.7% of Philadelphia Trust Co.’s portfolio, making the stock its 16th largest position. Philadelphia Trust Co. owned about 0.06% of L3Harris Technologies worth $25,237,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Miller Global Investments LLC grew its stake in shares of L3Harris Technologies by 34.0% during the 2nd quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock valued at $40,000 after buying an additional 35 shares during the period. AlTi Global Inc. increased its holdings in shares of L3Harris Technologies by 4.3% during the 1st quarter. AlTi Global Inc. now owns 923 shares of the company’s stock worth $319,000 after buying an additional 38 shares during the last quarter. Twin Lakes Capital Management LLC increased its holdings in shares of L3Harris Technologies by 0.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock worth $4,125,000 after buying an additional 38 shares during the last quarter. Center for Financial Planning Inc. raised its position in shares of L3Harris Technologies by 18.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock worth $58,000 after buying an additional 39 shares during the period. Finally, Signature Equity Partners LLC raised its position in shares of L3Harris Technologies by 2.3% in the 1st quarter. Signature Equity Partners LLC now owns 1,863 shares of the company’s stock worth $643,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $276.28 on Wednesday. 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 Inc has a 52-week low of $232.34 and a 52-week high of $379.23. The company has a 50 day moving average of $250.52 and a two-hundred day moving average of $302.40. The company has a market cap of $51.44 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.66 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 29th. The company reported $3.28 EPS 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 posted $2.70 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that L3Harris Technologies Inc will post 12.10 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is currently 46.64%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LHX shares. UBS Group lifted their target price on L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Melius Research lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Sanford C. Bernstein cut their price objective on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Susquehanna cut their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Finally, The Goldman Sachs Group reduced their price objective on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.93.

L3Harris Technologies Profile

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.