NewSquare Capital LLC Acquires 322 Shares of L3Harris Technologies Inc $LHX

NewSquare Capital LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,221 shares of the company’s stock after buying an additional 322 shares during the period. NewSquare Capital LLC’s holdings in L3Harris Technologies were worth $1,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Gold Investment Management Ltd. increased its stake in L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after purchasing an additional 904 shares in the last quarter. BankPlus Trust Department increased its stake in L3Harris Technologies by 6.9% in the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after purchasing an additional 379 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in L3Harris Technologies by 20.6% in the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after purchasing an additional 33,019 shares in the last quarter. US Bancorp DE increased its stake in L3Harris Technologies by 1.6% in the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after purchasing an additional 5,526 shares in the last quarter. Finally, Dean Capital Management increased its stake in L3Harris Technologies by 11.5% in the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock valued at $2,009,000 after purchasing an additional 986 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. UBS Group upped their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank Of Canada increased their price objective 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. Barclays increased their price objective 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. Finally, Truist Financial increased their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.63.

L3Harris Technologies Stock Performance

Shares of LHX opened at $290.77 on Wednesday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The firm has a fifty day simple moving average of $287.43 and a 200 day simple moving average of $262.92. The stock has a market capitalization of $54.40 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.09 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company posted $3.34 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

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.