L & S Advisors Inc Purchases New Shares in L3Harris Technologies Inc $LHX

L & S Advisors Inc acquired a new position in L3Harris Technologies Inc (NYSE:LHX) during the second quarter, HoldingsChannel reports. The fund acquired 27,036 shares of the company’s stock, valued at approximately $6,782,000.

Other institutional investors have also made changes to their positions in the company. Gold Investment Management Ltd. boosted its position in L3Harris Technologies by 108.4% in the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares during the last quarter. BankPlus Trust Department lifted its stake in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after acquiring an additional 379 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 acquiring an additional 33,019 shares during the last quarter. US Bancorp DE increased its position in L3Harris Technologies by 1.6% in the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after purchasing an additional 5,526 shares during the period. Finally, Dean Capital Management raised its holdings in L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after purchasing an additional 986 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on LHX shares. Citigroup raised their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Morgan Stanley lifted their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $295.63.

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 value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

LHX stock opened at $288.51 on Friday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The stock has a 50-day moving average price of $289.84 and a two-hundred day moving average price of $266.02. The stock has a market cap of $53.97 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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 analysts’ expectations of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is 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.