Woodward Diversified Capital LLC Acquires New Position in L3Harris Technologies Inc $LHX

Woodward Diversified Capital LLC acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,379 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vigilare Wealth Management purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $563,000. PFG Investments LLC increased its holdings in L3Harris Technologies by 24.6% in the 2nd quarter. PFG Investments LLC now owns 1,664 shares of the company’s stock worth $417,000 after buying an additional 328 shares during the period. Consolidated Portfolio Review Corp acquired a new position in L3Harris Technologies in the 2nd quarter worth approximately $232,000. LBP AM SA acquired a new position in L3Harris Technologies in the 2nd quarter worth approximately $8,252,000. Finally, Victrix Investment Advisors increased its holdings in L3Harris Technologies by 11.2% in the 2nd quarter. Victrix Investment Advisors now owns 2,297 shares of the company’s stock worth $576,000 after buying an additional 232 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction 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. This trade represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 195,138 shares of company stock worth $53,571,774. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LHX shares. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Barclays increased their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock 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, Robert W. Baird increased their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $300.80 on Thursday. The stock has a market capitalization of $56.28 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.23 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $305.94. The firm’s 50 day simple moving average is $278.03 and its 200-day simple moving average is $248.41. 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 (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. The business 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 business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given 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 dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) 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.