Werba Rubin Papier Wealth Management Acquires New Position in L3Harris Technologies Inc $LHX

Werba Rubin Papier Wealth Management acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 842 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. lifted its position in L3Harris Technologies by 4.5% in the second quarter. Bridges Investment Management Inc. now owns 6,458 shares of the company’s stock valued at $1,620,000 after purchasing an additional 281 shares during the period. Ritholtz Wealth Management lifted its position in L3Harris Technologies by 4.4% in the second quarter. Ritholtz Wealth Management now owns 1,554 shares of the company’s stock valued at $390,000 after purchasing an additional 65 shares during the period. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in L3Harris Technologies in the second quarter valued at about $648,000. Cypress Wealth Services LLC acquired a new stake in L3Harris Technologies in the second quarter valued at about $228,000. Finally, Courier Capital LLC lifted its position in L3Harris Technologies by 82.0% in the second quarter. Courier Capital LLC now owns 2,311 shares of the company’s stock valued at $580,000 after purchasing an additional 1,041 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Citigroup lifted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Thirteen equities 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, the company presently has an average rating of “Moderate Buy” and an average target price of $287.63.

L3Harris Technologies Trading Down 1.9%

Shares of L3Harris Technologies stock opened at $284.28 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a market capitalization of $53.19 billion, a P/E ratio of 31.76, a P/E/G ratio of 2.12 and a beta of 0.76. The business has a 50 day moving average price of $282.94 and a 200 day moving average price of $254.90.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $3.24 EPS. The company’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. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is currently 53.63%.

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.