Legacy Wealth Management LLC MS Trims Stake in L3Harris Technologies Inc $LHX

Legacy Wealth Management LLC MS lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 12.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,396 shares of the company’s stock after selling 1,651 shares during the period. L3Harris Technologies comprises approximately 1.0% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 18th biggest position. Legacy Wealth Management LLC MS’s holdings in L3Harris Technologies were worth $3,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Kiker Wealth Management LLC raised its position in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares during the period. Harbor Asset Planning Inc. acquired a new position in L3Harris Technologies during the second quarter worth $32,000. Independence Bank of Kentucky grew its position 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 during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth about $34,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of LHX opened at $325.84 on Friday. The firm has a 50-day simple moving average of $289.35 and a two-hundred day simple moving average of $280.94. The stock has a market cap of $60.95 billion, a PE ratio of 35.00, a P/E/G ratio of 1.94 and a beta of 0.66. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $336.65. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 net margin of 8.09% and a return on equity of 11.08%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business 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. As a group, analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 17th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 144,426 shares of the company’s stock, 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 can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Truist Financial upped their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Cowen restated a “buy” rating on shares of L3Harris Technologies in a research report on Monday. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, Citigroup assumed coverage on shares of L3Harris Technologies in a report on Thursday, December 11th. They set a “buy” rating and a $331.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $302.29.

L3Harris Technologies Profile

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.