Institute for Wealth Management LLC. Sells 259 Shares of L3Harris Technologies Inc $LHX

Institute for Wealth Management LLC. cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 16.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,276 shares of the company’s stock after selling 259 shares during the quarter. Institute for Wealth Management LLC.’s holdings in L3Harris Technologies were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Truist Financial Corp grew its stake in shares of L3Harris Technologies by 5.0% in the second quarter. Truist Financial Corp now owns 130,680 shares of the company’s stock worth $32,780,000 after acquiring an additional 6,279 shares during the period. Trivium Point Advisory LLC grew its stake in shares of L3Harris Technologies by 8.7% in the second quarter. Trivium Point Advisory LLC now owns 2,320 shares of the company’s stock worth $582,000 after acquiring an additional 186 shares during the period. HCR Wealth Advisors grew its stake in shares of L3Harris Technologies by 1.3% in the second quarter. HCR Wealth Advisors now owns 12,281 shares of the company’s stock worth $3,081,000 after acquiring an additional 159 shares during the period. Capital Investment Advisors LLC grew its position in L3Harris Technologies by 4.6% during the second quarter. Capital Investment Advisors LLC now owns 7,687 shares of the company’s stock valued at $1,928,000 after buying an additional 335 shares during the period. Finally, Kavar Capital Partners Group LLC bought a new stake in L3Harris Technologies during the second quarter valued at approximately $201,000. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 over the last quarter. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

LHX opened at $295.95 on Friday. The firm has a market cap of $55.37 billion, a P/E ratio of 33.07, a PEG ratio of 2.20 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $305.94. The company has a 50 day simple moving average of $278.50 and a two-hundred day simple moving average of $248.98. 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 (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s payout ratio is 53.63%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LHX. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Truist Financial boosted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. UBS Group boosted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Citigroup boosted their target price 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. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

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.