REAP Financial Group LLC Buys 72 Shares of L3Harris Technologies Inc $LHX

REAP Financial Group LLC increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 56.3% during the 2nd quarter, Holdings Channel reports. The fund owned 200 shares of the company’s stock after acquiring an additional 72 shares during the period. REAP Financial Group LLC’s holdings in L3Harris Technologies were worth $50,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies in the 1st quarter valued at about $26,000. Beacon Capital Management LLC boosted its stake in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Independence Bank of Kentucky boosted its stake in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Robert W. Baird increased their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $279.47.

L3Harris Technologies Stock Performance

NYSE LHX opened at $306.83 on Thursday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $306.83. The company has a 50-day simple moving average of $280.99 and a 200 day simple moving average of $251.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $57.41 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (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 during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the company posted $3.24 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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 yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last three months. Company insiders own 0.72% of the company’s stock.

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.