Wealthcare Advisory Partners LLC Grows Stock Holdings in L3Harris Technologies Inc $LHX

Wealthcare Advisory Partners LLC raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,434 shares of the company’s stock after buying an additional 131 shares during the period. Wealthcare Advisory Partners LLC’s holdings in L3Harris Technologies were worth $360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gold Investment Management Ltd. boosted its holdings 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 during the period. Janney Montgomery Scott LLC boosted its holdings 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 during the period. Oppenheimer Asset Management Inc. boosted its holdings in L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock valued at $926,000 after purchasing an additional 216 shares during the period. Dean Capital Management boosted its holdings 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 during the period. Finally, Synergy Asset Management LLC purchased a new position in L3Harris Technologies in the second quarter valued at $1,218,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was 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 in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LHX. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Barclays raised their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Citigroup raised their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Stock Down 2.8%

LHX opened at $298.11 on Friday. The business’s 50-day simple moving average is $281.45 and its 200-day simple moving average is $252.11. 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 Inc has a one year low of $193.09 and a one year high of $308.12. The stock has a market capitalization of $55.78 billion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued 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 return on equity of 11.82% and a net margin of 7.94%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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