Stiles Financial Services Inc Sells 49 Shares of L3Harris Technologies Inc $LHX

Stiles Financial Services Inc trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 975 shares of the company’s stock after selling 49 shares during the quarter. Stiles Financial Services Inc’s holdings in L3Harris Technologies were worth $244,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction that occurred on 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 approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $292.45 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The stock’s 50 day moving average price is $281.74 and its 200-day moving average price is $252.65. The company has a market capitalization of $54.72 billion, a PE ratio of 32.68, a PEG ratio of 2.18 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the business earned $3.24 EPS. The company’s 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, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday. Royal Bank Of Canada boosted their price objective on 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 reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. UBS Group boosted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Finally, Truist Financial boosted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

L3Harris Technologies 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.