Novare Capital Management LLC Sells 1,825 Shares of L3Harris Technologies Inc $LHX

Novare Capital Management LLC decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,351 shares of the company’s stock after selling 1,825 shares during the period. L3Harris Technologies makes up about 1.0% of Novare Capital Management LLC’s portfolio, making the stock its 28th largest position. Novare Capital Management LLC’s holdings in L3Harris Technologies were worth $13,545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Kiker Wealth Management LLC lifted its position 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 acquiring an additional 63 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of L3Harris Technologies in the second quarter worth approximately $32,000. Independence Bank of Kentucky lifted its holdings in shares of 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. Twin Peaks Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies during the second quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $34,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial set a $364.00 price objective on L3Harris Technologies in a research note on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen cut shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 11th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.73.

L3Harris Technologies Stock Up 1.9%

LHX opened at $360.78 on Wednesday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $362.42. The company’s 50-day moving average price is $303.89 and its two-hundred day moving average price is $289.85. The stock has a market cap of $67.48 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 2.21 and a beta of 0.66. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

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. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business posted $3.34 EPS. L3Harris Technologies’s quarterly revenue 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. As a group, equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 51.56%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.