Legacy Wealth Management LLC MS Sells 180 Shares of L3Harris Technologies Inc $LHX

Legacy Wealth Management LLC MS lowered its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,047 shares of the company’s stock after selling 180 shares during the period. L3Harris Technologies comprises 1.0% of Legacy Wealth Management LLC MS’s holdings, making the stock its 26th largest holding. Legacy Wealth Management LLC MS’s holdings in L3Harris Technologies were worth $3,273,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LHX. Brighton Jones LLC raised its stake in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in L3Harris Technologies by 21.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after buying an additional 1,236 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in L3Harris Technologies during the fourth quarter worth $232,000. NorthRock Partners LLC raised its stake in L3Harris Technologies by 124.7% during the fourth quarter. NorthRock Partners LLC now owns 1,948 shares of the company’s stock worth $410,000 after buying an additional 1,081 shares during the last quarter. Finally, Nomura Holdings Inc. raised its stake in L3Harris Technologies by 252.5% during the fourth quarter. Nomura Holdings Inc. now owns 6,256 shares of the company’s stock worth $1,316,000 after buying an additional 4,481 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 over the last 90 days. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 0.5%

L3Harris Technologies stock opened at $279.22 on Friday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $281.67. The stock has a market cap of $52.24 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The firm’s 50-day simple moving average is $271.08 and its 200 day simple moving average is $241.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is 53.63%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Finally, Barclays raised their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $279.47.

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.