Ritholtz Wealth Management Has $1.57 Million Stock Holdings in L3Harris Technologies Inc $LHX

Ritholtz Wealth Management boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 231.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,146 shares of the company’s stock after acquiring an additional 3,592 shares during the quarter. Ritholtz Wealth Management’s holdings in L3Harris Technologies were worth $1,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiker Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in L3Harris Technologies during the second quarter worth $32,000. Independence Bank of Kentucky boosted its stake 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 worth $33,000 after acquiring an additional 40 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in L3Harris Technologies in the 2nd quarter valued at about $34,000. Finally, Salomon & Ludwin LLC bought a new position in L3Harris Technologies during the third quarter worth about $34,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LHX. Cowen restated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. UBS Group upped their price target on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday. Vertical Research restated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $315.00 to $360.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $315.73.

L3Harris Technologies Trading Up 1.9%

Shares of LHX opened at $346.74 on Monday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $361.59. 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 company has a market capitalization of $64.86 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.17 and a beta of 0.66. The firm’s 50 day simple moving average is $295.67 and its 200 day simple moving average is $285.24.

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

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.