9,124 L3Harris Technologies Inc $LHX Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 53.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,895 shares of the company’s stock after selling 9,124 shares during the quarter. Ritholtz Wealth Management’s holdings in L3Harris Technologies were worth $1,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 29.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock worth $15,441,000 after purchasing an additional 12,059 shares during the period. Community Trust & Investment Co. grew its holdings in L3Harris Technologies by 8.2% during the 3rd quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock valued at $15,101,000 after purchasing an additional 4,828 shares during the last quarter. Meeder Advisory Services Inc. purchased a new stake in L3Harris Technologies in the 2nd quarter worth about $1,397,000. ASK Capital Investment Managers LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth about $1,839,000. Finally, Swiss National Bank lifted its stake in L3Harris Technologies by 7.1% in the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after purchasing an additional 36,320 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.2%

Shares of NYSE LHX traded up $0.58 during mid-day trading on Friday, reaching $272.42. The company had a trading volume of 971,395 shares, compared to its average volume of 1,916,825. The business’s 50-day moving average is $251.22 and its 200-day moving average is $301.15. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The stock has a market cap of $50.72 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.66 and a beta of 0.47. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 29th. The company reported $3.28 EPS for the quarter, topping the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm posted $2.70 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies Inc will post 12.10 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is 46.64%.

Analysts Set New Price Targets

Several brokerages have issued reports on LHX. Weiss Ratings lowered L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Sanford C. Bernstein reduced their price target on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. BNP Paribas Exane decreased their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Deutsche Bank reissued a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, Royal Bank Of Canada boosted their price objective on L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $340.93.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.