PDS Planning Inc Boosts Stake in L3Harris Technologies Inc $LHX

PDS Planning Inc boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333 shares of the company’s stock after purchasing an additional 60 shares during the quarter. PDS Planning Inc’s holdings in L3Harris Technologies were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LHX. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the first quarter valued at approximately $26,000. Independence Bank of Kentucky lifted 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 valued at $33,000 after acquiring an additional 40 shares during the last quarter. Beacon Capital Management LLC boosted its stake in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at $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 available through the SEC website. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 in the last quarter. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 1.9%

Shares of LHX stock opened at $292.45 on Monday. The stock’s 50-day simple moving average is $281.74 and its 200-day simple moving average is $253.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market capitalization of $54.72 billion, a PE ratio of 32.68, a P/E/G ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the business earned $3.24 earnings per share. The company’s 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. Equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LHX shares. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Thirteen investment 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.com, L3Harris Technologies currently has an average 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.