Core Alternative Capital Sells 2,235 Shares of L3Harris Technologies Inc $LHX

Core Alternative Capital decreased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,679 shares of the company’s stock after selling 2,235 shares during the quarter. Core Alternative Capital’s holdings in L3Harris Technologies were worth $4,483,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cyndeo Wealth Partners LLC raised its holdings in L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after purchasing an additional 37 shares during the period. Twin Lakes Capital Management LLC raised its stake in L3Harris Technologies by 0.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after buying an additional 38 shares during the period. Fidelis Capital Partners LLC raised its stake in L3Harris Technologies by 2.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after buying an additional 39 shares during the period. Independence Bank of Kentucky grew its stake in L3Harris Technologies by 44.4% in the second 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 period. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of L3Harris Technologies by 3.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, January 12th. Morgan Stanley upped their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. UBS Group raised their price objective on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Finally, BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $315.73.

L3Harris Technologies Stock Up 1.9%

Shares of LHX stock opened at $360.78 on Wednesday. The firm’s fifty day moving average price is $303.89 and its two-hundred day moving average price is $289.85. 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 $362.42. The firm has a market capitalization of $67.48 billion, a P/E ratio of 38.75, a PEG ratio of 2.21 and a beta of 0.66.

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, 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 company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.34 EPS. L3Harris Technologies’s revenue for the quarter 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. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 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.