L3Harris Technologies Inc $LHX Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX) by 80.0% during the second quarter, HoldingsChannel reports. The firm owned 382 shares of the company’s stock after selling 1,530 shares during the period. Johnson Financial Group Inc.’s holdings in L3Harris Technologies were worth $96,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kiker Wealth Management LLC grew its holdings in L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies in the first quarter valued at about $26,000. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies during the second quarter worth about $32,000. Finally, Independence Bank of Kentucky raised its stake in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target 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. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Truist Financial upped their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $295.00.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $277.92 on Friday. The stock has a market capitalization of $51.99 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The business has a 50-day moving average of $290.37 and a 200 day moving average of $270.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. The business 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 business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 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.