Focused Investors LLC Purchases 18,200 Shares of L3Harris Technologies Inc $LHX

Focused Investors LLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 448,450 shares of the company’s stock after buying an additional 18,200 shares during the quarter. L3Harris Technologies accounts for about 4.2% of Focused Investors LLC’s investment portfolio, making the stock its 12th biggest position. Focused Investors LLC’s holdings in L3Harris Technologies were worth $136,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LHX. Kiker Wealth Management LLC boosted its holdings in 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 during the period. Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies during the second quarter worth $32,000. Independence Bank of Kentucky boosted its stake in shares of L3Harris Technologies by 44.4% during 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 during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of L3Harris Technologies during the second quarter valued at $34,000. Finally, Salomon & Ludwin LLC bought a new position in shares of L3Harris Technologies in the third quarter worth about $34,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $315.00 to $360.00 and gave the company a “sector perform” rating in a report on Wednesday. JPMorgan Chase & Co. increased 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. Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 11th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.73.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.9%

L3Harris Technologies stock opened at $339.89 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a market cap of $63.58 billion, a P/E ratio of 36.51, a P/E/G ratio of 2.14 and a beta of 0.66. The business has a fifty day moving average of $294.55 and a two-hundred day moving average of $284.13. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $361.59.

L3Harris Technologies (NYSE:LHX) last released 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. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.34 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.