Alpine Woods Capital Investors LLC Reduces Stake in L3Harris Technologies Inc $LHX

Alpine Woods Capital Investors LLC cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,679 shares of the company’s stock after selling 160 shares during the period. L3Harris Technologies accounts for 2.0% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 8th biggest holding. Alpine Woods Capital Investors LLC’s holdings in L3Harris Technologies were worth $8,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornerstone Wealth Group LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at approximately $203,000. NorthRock Partners LLC boosted its stake in shares of L3Harris Technologies by 10.3% during the second quarter. NorthRock Partners LLC now owns 1,854 shares of the company’s stock valued at $465,000 after purchasing an additional 173 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of L3Harris Technologies by 6.3% during the second quarter. Verdence Capital Advisors LLC now owns 1,687 shares of the company’s stock valued at $423,000 after purchasing an additional 100 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in shares of L3Harris Technologies by 4.6% during the second quarter. Astoria Portfolio Advisors LLC. now owns 1,062 shares of the company’s stock valued at $290,000 after purchasing an additional 47 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of L3Harris Technologies by 19.3% during the second quarter. Sequoia Financial Advisors LLC now owns 12,011 shares of the company’s stock valued at $3,013,000 after purchasing an additional 1,946 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 0.4%

NYSE LHX opened at $293.44 on Tuesday. The company has a fifty day simple moving average of $282.05 and a two-hundred day simple moving average of $253.82. The stock has a market cap of $54.90 billion, a P/E ratio of 32.79, a P/E/G ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Royal Bank Of Canada raised their target price 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. Barclays raised their target price 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. Susquehanna raised their target price 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.19.

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.