L3Harris Technologies Inc $LHX Stake Boosted by Cypress Capital Group

Cypress Capital Group grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.4% in the 2nd quarter, Holdings Channel reports. The firm owned 10,079 shares of the company’s stock after acquiring an additional 604 shares during the quarter. Cypress Capital Group’s holdings in L3Harris Technologies were worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Beacon Capital Management LLC grew its holdings in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of L3Harris Technologies by 44.4% during 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 last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

LHX has been the subject of several recent research reports. Robert W. Baird upped their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Stock Performance

LHX opened at $292.45 on Monday. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The business has a 50 day moving average price of $281.74 and a two-hundred day moving average price of $253.22.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.24 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the company’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 sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This represents 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 this hyperlink. Insiders sold 195,138 shares of company stock valued at $53,571,774 in the last three months. Corporate insiders own 0.72% of the company’s stock.

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.