L3Harris Technologies Inc $LHX Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 53.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,895 shares of the company’s stock after selling 9,124 shares during the quarter. Ritholtz Wealth Management’s holdings in L3Harris Technologies were worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Miller Global Investments LLC increased its stake in shares of L3Harris Technologies by 34.0% during the second quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock valued at $40,000 after buying an additional 35 shares during the period. AlTi Global Inc. grew its holdings in L3Harris Technologies by 4.3% during the 1st quarter. AlTi Global Inc. now owns 923 shares of the company’s stock worth $319,000 after acquiring an additional 38 shares in the last quarter. Twin Lakes Capital Management LLC raised its holdings in shares of L3Harris Technologies by 0.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock valued at $4,125,000 after purchasing an additional 38 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in L3Harris Technologies by 18.8% during the third quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock valued at $58,000 after buying an additional 39 shares during the period. Finally, Signature Equity Partners LLC lifted its holdings in L3Harris Technologies by 2.3% during the first quarter. Signature Equity Partners LLC now owns 1,863 shares of the company’s stock worth $643,000 after buying an additional 41 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.2%

Shares of LHX stock traded up $0.58 during trading hours on Friday, reaching $272.42. 971,395 shares of the company’s stock were exchanged, compared to its average volume of 1,916,825. The stock’s 50 day moving average is $251.22 and its 200-day moving average is $301.15. The company has a market cap of $50.72 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.66 and a beta of 0.47. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. L3Harris Technologies Inc has a fifty-two week low of $232.34 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 29th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.95 by $0.33. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. Analysts predict that L3Harris Technologies Inc will post 12.10 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is currently 46.64%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. Weiss Ratings downgraded L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. TD Cowen reduced their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 9th. Guggenheim initiated coverage on shares of L3Harris Technologies in a research report on Monday, September 14th. They set a “buy” rating and a $365.00 price target for the company. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday, November 1st. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.93.

About L3Harris Technologies

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.