L3Harris Technologies Inc $LHX Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 10.6% during the third quarter, Holdings Channel reports. The institutional investor owned 119,827 shares of the company’s stock after selling 14,167 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in L3Harris Technologies were worth $36,596,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. NovaPoint Capital LLC lifted its holdings in L3Harris Technologies by 8.3% in the 3rd quarter. NovaPoint Capital LLC now owns 19,030 shares of the company’s stock valued at $5,812,000 after acquiring an additional 1,462 shares during the last quarter. Bard Financial Services Inc. grew its stake in shares of L3Harris Technologies by 2.0% in the 3rd quarter. Bard Financial Services Inc. now owns 5,050 shares of the company’s stock worth $1,542,000 after purchasing an additional 100 shares during the last quarter. FSM Wealth Advisors LLC raised its holdings in shares of L3Harris Technologies by 5.4% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,240 shares of the company’s stock worth $379,000 after purchasing an additional 63 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in L3Harris Technologies by 25.5% during the third quarter. Apollon Wealth Management LLC now owns 25,995 shares of the company’s stock worth $7,939,000 after buying an additional 5,285 shares in the last quarter. Finally, 180 Wealth Advisors LLC bought a new stake in L3Harris Technologies during the third quarter worth approximately $284,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LHX. Citigroup started 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. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Morgan Stanley boosted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of L3Harris Technologies in a research note on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $295.50.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on 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 sale, the chief executive officer 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 filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.5%

Shares of L3Harris Technologies stock opened at $296.69 on Friday. The stock has a 50-day moving average price of $286.85 and a 200 day moving average price of $277.69. The company has a market cap of $55.50 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.16 and a beta of 0.65. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share 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 business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.