L3Harris Technologies Inc $LHX Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,995 shares of the company’s stock after acquiring an additional 5,285 shares during the quarter. Apollon Wealth Management LLC’s holdings in L3Harris Technologies were worth $7,939,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LHX. Gold Investment Management Ltd. lifted its holdings in L3Harris Technologies by 108.4% during the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after buying an additional 904 shares during the last quarter. BankPlus Trust Department raised its position in shares of L3Harris Technologies by 6.9% during the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after acquiring an additional 379 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after acquiring an additional 33,019 shares in the last quarter. US Bancorp DE lifted its stake in L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after purchasing an additional 5,526 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new position in L3Harris Technologies in the second quarter worth $1,218,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $296.69 on Friday. The stock has a market cap of $55.50 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The stock’s 50 day moving average price is $286.85 and its 200 day moving average price is $277.69.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Analysts Set New Price Targets

A number of analysts have weighed in on LHX shares. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. lifted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Finally, Citigroup assumed coverage on L3Harris Technologies in a report on Thursday, December 11th. They issued a “buy” rating and a $331.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.50.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were 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 of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.