Blue Zone Wealth Advisors LLC Purchases New Shares in L3Harris Technologies Inc $LHX

Blue Zone Wealth Advisors LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) in the second quarter, Holdings Channel.com reports. The firm purchased 858 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in L3Harris Technologies by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock worth $2,058,151,000 after purchasing an additional 181,550 shares during the period. Wellington Management Group LLP increased its position in L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after purchasing an additional 557,610 shares during the period. Invesco Ltd. increased its position in L3Harris Technologies by 5.0% in the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock worth $491,323,000 after purchasing an additional 112,271 shares during the period. Allspring Global Investments Holdings LLC increased its position in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after purchasing an additional 311,886 shares during the period. Finally, Nuveen LLC acquired a new stake in L3Harris Technologies in the first quarter worth about $299,157,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $292.45 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $281.74 and a 200-day moving average of $252.65. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The firm has a market capitalization of $54.72 billion, a P/E ratio of 32.68, a PEG ratio of 2.18 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm earned $3.24 EPS. L3Harris Technologies’s quarterly 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 anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LHX. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Truist Financial lifted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $278.19.

L3Harris Technologies 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.