Brighton Jones LLC Trims Stake in L3Harris Technologies Inc $LHX

Brighton Jones LLC lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 53.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,108 shares of the company’s stock after selling 2,416 shares during the quarter. Brighton Jones LLC’s holdings in L3Harris Technologies were worth $644,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LHX. Nova Wealth Management Inc. bought a new position in L3Harris Technologies in the 1st quarter worth about $26,000. Kiker Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies in the second quarter worth approximately $32,000. Independence Bank of Kentucky increased its position in shares of L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $34,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $299.08 on Friday. The company has a market capitalization of $55.94 billion, a P/E ratio of 32.12, a PEG ratio of 2.17 and a beta of 0.65. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a 50 day moving average price of $286.59 and a two-hundred day moving average price of $277.11.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm earned $3.34 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a research note on Monday. Morgan Stanley upped their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. raised their price target on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Citigroup started coverage on L3Harris Technologies in a research note on Thursday, December 11th. They set a “buy” rating and a $331.00 price target for the company. Finally, UBS Group increased their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.50.

L3Harris Technologies Profile

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.