Novare Capital Management LLC Sells 1,825 Shares of L3Harris Technologies Inc $LHX

Novare Capital Management LLC trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,351 shares of the company’s stock after selling 1,825 shares during the quarter. L3Harris Technologies accounts for about 1.0% of Novare Capital Management LLC’s portfolio, making the stock its 28th largest position. Novare Capital Management LLC’s holdings in L3Harris Technologies were worth $13,545,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Phoenix Financial Ltd. bought a new stake in shares of L3Harris Technologies in the third quarter worth $364,000. Triton Financial Group Inc lifted its holdings in L3Harris Technologies by 0.8% during the 3rd quarter. Triton Financial Group Inc now owns 5,937 shares of the company’s stock worth $1,813,000 after buying an additional 48 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $538,000. Clark Financial Services Group Inc. BD increased its stake in shares of L3Harris Technologies by 10.1% in the third quarter. Clark Financial Services Group Inc. BD now owns 1,873 shares of the company’s stock valued at $572,000 after buying an additional 172 shares during the period. Finally, National Wealth Management Group LLC acquired a new stake in shares of L3Harris Technologies in the third quarter valued at about $1,090,000. Institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $360.78 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $362.42. The company has a fifty day moving average of $303.89 and a 200-day moving average of $289.85. The firm has a market capitalization of $67.48 billion, a P/E ratio of 38.75, a P/E/G ratio of 2.21 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. 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 firm earned $3.34 earnings per share. L3Harris Technologies’s revenue 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 year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LHX. Citigroup lifted their price objective on L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. UBS Group boosted their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $315.73.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.