L3Harris Technologies Inc $LHX Shares Sold by Optas LLC

Optas LLC decreased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,599 shares of the company’s stock after selling 38 shares during the quarter. Optas LLC’s holdings in L3Harris Technologies were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LHX. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in L3Harris Technologies during the 1st quarter worth about $26,000. Beacon Capital Management LLC lifted its position in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Independence Bank of Kentucky lifted its position 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 acquiring an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position 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 acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $298.11 on Friday. The stock has a market cap of $55.78 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76. The business has a 50-day simple moving average of $281.45 and a 200-day simple moving average of $252.11. 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 Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays lifted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. UBS Group lifted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Truist Financial lifted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $278.19.

About L3Harris Technologies

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.