Strategic Financial Concepts LLC Invests $219,000 in L3Harris Technologies Inc $LHX

Strategic Financial Concepts LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, Holdings Channel.com reports. The firm acquired 872 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Golden State Wealth Management LLC lifted its position in L3Harris Technologies by 50.3% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the company’s stock worth $63,000 after purchasing an additional 100 shares during the period. Vontobel Holding Ltd. boosted its stake in L3Harris Technologies by 22.7% during the first quarter. Vontobel Holding Ltd. now owns 1,455 shares of the company’s stock worth $305,000 after buying an additional 269 shares in the last quarter. Private Trust Co. NA increased its holdings in L3Harris Technologies by 29.1% in the 1st quarter. Private Trust Co. NA now owns 1,254 shares of the company’s stock valued at $262,000 after buying an additional 283 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of L3Harris Technologies by 226.5% in the 1st quarter. Teacher Retirement System of Texas now owns 36,530 shares of the company’s stock valued at $7,646,000 after buying an additional 25,340 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. UBS Group lifted their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday. Truist Financial upped 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. Royal Bank Of Canada raised 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. Finally, Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.31.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $289.07 on Monday. The stock has a market capitalization of $54.08 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. 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 firm has a 50 day moving average of $286.92 and a 200-day moving average of $261.91.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company earned $3.34 EPS. L3Harris Technologies’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

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.