Leith Wheeler Investment Counsel Ltd. Grows Stock Holdings in L3Harris Technologies Inc $LHX

Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 183,135 shares of the company’s stock after purchasing an additional 6,557 shares during the period. L3Harris Technologies comprises 2.7% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 12th largest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in L3Harris Technologies were worth $45,938,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Gold Investment Management Ltd. grew its stake in L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after buying an additional 904 shares during the period. BankPlus Trust Department grew its stake in L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after buying an additional 379 shares during the period. Janney Montgomery Scott LLC grew its stake in L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after buying an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. grew its stake in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after buying an additional 216 shares during the period. Finally, US Bancorp DE grew its stake in L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after buying an additional 5,526 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Barclays boosted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. UBS Group boosted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, Susquehanna boosted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.19.

L3Harris Technologies Trading Down 1.9%

LHX opened at $292.45 on Monday. The stock has a market capitalization of $54.72 billion, a PE ratio of 32.68, a P/E/G ratio of 2.14 and a beta of 0.76. The firm’s fifty day moving average price is $281.74 and its 200 day moving average price is $253.22. 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 Inc has a 12-month low of $193.09 and a 12-month high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 195,138 shares of company stock valued at $53,571,774 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.