Tectonic Advisors LLC Acquires 62 Shares of L3Harris Technologies Inc $LHX

Tectonic Advisors LLC raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.4% during the second quarter, Holdings Channel.com reports. The fund owned 2,682 shares of the company’s stock after purchasing an additional 62 shares during the period. Tectonic Advisors LLC’s holdings in L3Harris Technologies were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Columbus Macro LLC boosted its stake in L3Harris Technologies by 8.4% in the second quarter. Columbus Macro LLC now owns 25,250 shares of the company’s stock valued at $6,334,000 after acquiring an additional 1,952 shares during the last quarter. Trifecta Capital Advisors LLC boosted its stake in L3Harris Technologies by 6.3% in the second quarter. Trifecta Capital Advisors LLC now owns 15,317 shares of the company’s stock valued at $3,842,000 after acquiring an additional 910 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in L3Harris Technologies by 2.5% in the second quarter. Maryland State Retirement & Pension System now owns 9,077 shares of the company’s stock valued at $2,277,000 after acquiring an additional 224 shares during the last quarter. Bar Harbor Wealth Management boosted its stake in L3Harris Technologies by 0.3% in the second quarter. Bar Harbor Wealth Management now owns 18,249 shares of the company’s stock valued at $4,578,000 after acquiring an additional 60 shares during the last quarter. Finally, Citizens National Bank Trust Department boosted its position in shares of L3Harris Technologies by 5.2% during the second quarter. Citizens National Bank Trust Department now owns 6,861 shares of the company’s stock worth $1,721,000 after purchasing an additional 337 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Down 2.8%

Shares of NYSE:LHX opened at $298.11 on Friday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $281.45 and its 200 day simple moving average is $252.11. The firm has a market cap of $55.78 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 2.24 and a beta of 0.76.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies 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 in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last quarter. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday. Susquehanna lifted their price target 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. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Finally, Truist Financial lifted their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.19.

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.