Yousif Capital Management LLC Trims Stake in L3Harris Technologies Inc $LHX

Yousif Capital Management LLC lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,602 shares of the company’s stock after selling 95 shares during the quarter. Yousif Capital Management LLC’s holdings in L3Harris Technologies were worth $6,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gold Investment Management Ltd. raised its holdings in shares of L3Harris Technologies by 108.4% in the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares during the period. BankPlus Trust Department raised its holdings in shares of L3Harris Technologies by 6.9% in the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after buying an additional 379 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of L3Harris Technologies by 20.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after buying an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock valued at $926,000 after buying an additional 216 shares during the period. Finally, US Bancorp DE raised its holdings in shares of L3Harris Technologies by 1.6% in the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after buying an additional 5,526 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LHX. Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

L3Harris Technologies Trading Up 2.3%

NYSE:LHX opened at $300.03 on Wednesday. The stock has a 50-day simple moving average of $282.49 and a 200-day simple moving average of $254.14. The stock has a market cap of $56.14 billion, a P/E ratio of 33.52, a P/E/G ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. 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 released 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. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts anticipate 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 will be paid on Friday, December 5th. Stockholders 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 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insider Activity

In related 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 completion of the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 195,138 shares of company stock worth $53,571,774. Corporate insiders own 0.72% of the company’s stock.

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.