Schulhoff & Co. Inc. Grows Position in L3Harris Technologies Inc $LHX

Schulhoff & Co. Inc. increased its position in L3Harris Technologies Inc (NYSE:LHX) by 17.8% in the second quarter, HoldingsChannel reports. The firm owned 2,480 shares of the company’s stock after purchasing an additional 375 shares during the quarter. Schulhoff & Co. Inc.’s holdings in L3Harris Technologies were worth $622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiker Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Clearstead Trust LLC purchased a new position in L3Harris Technologies during the first quarter valued at $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the first quarter valued at $26,000. Harbor Asset Planning Inc. purchased a new position in L3Harris Technologies during the second quarter valued at $32,000. Finally, Independence Bank of Kentucky raised its stake in 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 buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.6%

L3Harris Technologies stock opened at $292.39 on Wednesday. The firm has a market cap of $54.71 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.12 and a beta of 0.76. The stock has a fifty day simple moving average of $284.08 and a two-hundred day simple moving average of $256.91. 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 earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping 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 quarter last year, the company earned $3.24 EPS. The company’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. Equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors 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 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is presently 53.63%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction 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 owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last three months. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LHX shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Truist Financial lifted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Morgan Stanley lifted their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $287.63.

About L3Harris Technologies

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.