L3Harris Technologies Inc $LHX Holdings Trimmed by Riverview Trust Co

Riverview Trust Co lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 34.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340 shares of the company’s stock after selling 177 shares during the period. Riverview Trust Co’s holdings in L3Harris Technologies were worth $85,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Independence Bank of Kentucky lifted its position in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the period. DB Fitzpatrick & Co Inc grew its stake in shares of L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after purchasing an additional 42 shares during the last quarter. Norway Savings Bank boosted its holdings in L3Harris Technologies by 3.0% in the second quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock valued at $374,000 after acquiring an additional 44 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in L3Harris Technologies by 3.7% in the second quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock valued at $314,000 after acquiring an additional 45 shares during the last quarter. Finally, BankPlus Wealth Management LLC lifted its stake in L3Harris Technologies by 2.2% in the second quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company’s stock valued at $528,000 after buying an additional 45 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $300.80 on Thursday. The company has a market cap of $56.28 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76. The firm has a 50 day moving average of $278.03 and a 200-day moving average of $248.41. 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 $305.94.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the company posted $3.24 EPS. The firm’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. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

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.