L3Harris Technologies Inc $LHX Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 18.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,155 shares of the company’s stock after purchasing an additional 49,743 shares during the period. 1832 Asset Management L.P.’s holdings in L3Harris Technologies were worth $78,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Kiker Wealth Management LLC raised its stake in 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. purchased a new position in L3Harris Technologies in the 2nd quarter valued at $32,000. Independence Bank of Kentucky boosted its stake in 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 purchasing an additional 40 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of L3Harris Technologies during the second quarter worth $34,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.3%

Shares of NYSE:LHX opened at $277.55 on Thursday. The business has a 50-day moving average price of $289.76 and a 200 day moving average price of $272.16. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $51.92 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.91 and a beta of 0.65. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 8.09% and a return on equity of 11.08%. L3Harris Technologies’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LHX shares. BNP Paribas Exane initiated coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Morgan Stanley increased their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Truist Financial lifted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $295.00.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.