L3Harris Technologies Inc $LHX Shares Purchased by Strong Tower Advisory Services

Strong Tower Advisory Services increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,963 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $3,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cyndeo Wealth Partners LLC boosted its position in L3Harris Technologies by 2.7% during the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after acquiring an additional 37 shares during the last quarter. Independence Bank of Kentucky boosted its position in L3Harris Technologies by 44.4% during the second 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. DB Fitzpatrick & Co Inc boosted its holdings in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after purchasing an additional 42 shares during the last quarter. Norway Savings Bank boosted its holdings in L3Harris Technologies by 3.0% in the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock valued at $374,000 after purchasing an additional 44 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in L3Harris Technologies by 3.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock valued at $314,000 after purchasing an additional 45 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LHX has been the topic of several recent analyst reports. 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 report on Friday, July 25th. 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 report on Friday, July 25th. Barclays boosted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $292.45 on Friday. The company’s 50 day simple moving average is $281.74 and its 200-day simple moving average is $252.65. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.18 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 results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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