L3Harris Technologies Inc $LHX Stake Reduced by Norris Perne & French LLP MI

Norris Perne & French LLP MI decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 61.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,930 shares of the company’s stock after selling 42,547 shares during the period. Norris Perne & French LLP MI’s holdings in L3Harris Technologies were worth $8,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Cyndeo Wealth Partners LLC boosted its holdings in L3Harris Technologies by 2.7% during the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after acquiring an additional 39 shares during the last quarter. Independence Bank of Kentucky lifted its position in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after acquiring an additional 40 shares during the last quarter. Finally, DB Fitzpatrick & Co Inc grew its holdings in shares of L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Morgan Stanley upped their target price on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of L3Harris Technologies in a report on Monday, December 22nd. Truist Financial boosted their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $295.50.

L3Harris Technologies Price Performance

NYSE LHX opened at $296.69 on Monday. The company has a 50 day simple moving average of $286.85 and a 200-day simple moving average of $277.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The firm has a market capitalization of $55.50 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts predict 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 was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date of this dividend was 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 is 51.56%.

Insider Activity

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

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.