Synergy Asset Management LLC Buys 10,488 Shares of L3Harris Technologies Inc $LHX

Synergy Asset Management LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 216.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,344 shares of the company’s stock after acquiring an additional 10,488 shares during the quarter. Synergy Asset Management LLC’s holdings in L3Harris Technologies were worth $4,686,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LHX. Vanguard Group Inc. raised its position in shares of L3Harris Technologies by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after acquiring an additional 121,619 shares during the period. State Street Corp grew its holdings in L3Harris Technologies by 1.2% during the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after purchasing an additional 105,402 shares during the period. Geode Capital Management LLC increased its stake in L3Harris Technologies by 0.8% in the second quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after purchasing an additional 38,820 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. Finally, Boston Partners boosted its position in shares of L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $304.29 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.84 and a beta of 0.65. The stock’s 50-day moving average is $287.32 and its 200-day moving average is $279.10. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s payout ratio is currently 51.56%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LHX. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Citigroup started coverage on L3Harris Technologies in a research note on Thursday, December 11th. They issued a “buy” rating and a $331.00 target price for the company. Wall Street Zen raised L3Harris Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, UBS Group lifted their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $299.93.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.