GHP Investment Advisors Inc. Increases Stake in L3Harris Technologies Inc $LHX

GHP Investment Advisors Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 14.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 37,278 shares of the company’s stock after purchasing an additional 4,674 shares during the period. GHP Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $11,385,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Kiker Wealth Management LLC grew its stake in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter valued at about $32,000. Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in L3Harris Technologies in the 2nd quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC bought a new stake in L3Harris Technologies in the third quarter valued at approximately $34,000. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LHX shares. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Citigroup increased their price target on shares of L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Vertical Research reaffirmed a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.73.

L3Harris Technologies Price Performance

LHX stock opened at $354.66 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. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $361.59. The firm has a 50-day moving average of $301.06 and a 200 day moving average of $288.05. The company has a market cap of $66.34 billion, a P/E ratio of 38.09, a PEG ratio of 2.21 and a beta of 0.66.

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

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s payout ratio is currently 51.56%.

L3Harris Technologies Profile

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.