Princeton Global Asset Management LLC Has $785,000 Stock Holdings in L3Harris Technologies Inc $LHX

Princeton Global Asset Management LLC trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 22.4% during the second quarter, HoldingsChannel reports. The firm owned 3,131 shares of the company’s stock after selling 902 shares during the quarter. Princeton Global Asset Management LLC’s holdings in L3Harris Technologies were worth $785,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LHX. Kiker Wealth Management LLC grew its stake in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 63 shares during the period. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies during the 1st quarter valued at about $26,000. Harbor Asset Planning Inc. acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $32,000. Finally, Independence Bank of Kentucky increased its stake in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on LHX. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Truist Financial upped their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Citigroup lifted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $287.63.

Insider Buying and Selling at L3Harris Technologies

In other 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 transaction of $23,231,700.00. Following 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 sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Down 0.1%

L3Harris Technologies stock opened at $283.89 on Monday. 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 Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The company has a fifty day simple moving average of $283.22 and a 200 day simple moving average of $256.04. The company has a market cap of $53.12 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76.

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

L3Harris Technologies Dividend Announcement

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 paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

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.