Enterprise Bank & Trust Co Invests $212,000 in L3Harris Technologies Inc $LHX

Enterprise Bank & Trust Co purchased a new position in L3Harris Technologies Inc (NYSE:LHX) during the second quarter, Holdings Channel reports. The institutional investor purchased 844 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at $26,000. Beacon Capital Management LLC increased its stake in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $37,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LHX. Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna boosted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Barclays boosted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

L3Harris Technologies Stock Performance

NYSE LHX opened at $279.22 on Friday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $281.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $52.24 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.05 and a beta of 0.76. The company has a fifty day moving average price of $271.08 and a 200-day moving average price of $241.66.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) 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 firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the business posted $3.24 EPS. The business’s revenue 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. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. Corporate insiders own 0.72% of the company’s stock.

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.