Strategic Financial Concepts LLC Invests $219,000 in L3Harris Technologies Inc $LHX

Strategic Financial Concepts LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 872 shares of the company’s stock, valued at approximately $219,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Kiker Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies during the first quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in L3Harris Technologies during the first quarter valued at $26,000. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies during the second quarter valued at $32,000. Finally, Independence Bank of Kentucky grew its stake in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In related 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 completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note 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. Citigroup raised their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $290.31.

L3Harris Technologies Price Performance

NYSE LHX opened at $289.07 on Monday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a fifty day simple moving average of $286.92 and a 200 day simple moving average of $261.91. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market cap of $54.08 billion, a P/E ratio of 32.30, a P/E/G ratio of 2.09 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is presently 51.56%.

L3Harris Technologies Company 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.