L3Harris Technologies Inc $LHX Stock Holdings Decreased by Brookmont Capital Management

Brookmont Capital Management lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,113 shares of the company’s stock after selling 453 shares during the quarter. L3Harris Technologies accounts for about 2.6% of Brookmont Capital Management’s portfolio, making the stock its 7th largest position. Brookmont Capital Management’s holdings in L3Harris Technologies were worth $4,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of LHX. Brighton Jones LLC increased its holdings in L3Harris Technologies by 233.9% in the fourth 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 during the last quarter. NBC Securities Inc. purchased a new position in L3Harris Technologies in the first quarter valued at $552,000. ST Germain D J Co. Inc. increased its holdings in L3Harris Technologies by 2.0% in the first quarter. ST Germain D J Co. Inc. now owns 7,944 shares of the company’s stock valued at $1,663,000 after buying an additional 157 shares during the last quarter. Sentry Investment Management LLC increased its holdings in L3Harris Technologies by 19.0% in the first quarter. Sentry Investment Management LLC now owns 596 shares of the company’s stock valued at $119,000 after buying an additional 95 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in L3Harris Technologies by 18.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,896 shares of the company’s stock valued at $1,234,000 after buying an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Susquehanna increased their target price 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 increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Truist Financial increased their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $300.80 on Thursday. The stock’s 50-day moving average is $278.03 and its two-hundred day moving average is $248.41. The firm has a market cap of $56.28 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.23 and a beta of 0.76. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $305.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.20 per share. The ex-dividend date was Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is 53.63%.

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.