MGO One Seven LLC Increases Stock Holdings in L3Harris Technologies Inc $LHX

MGO One Seven LLC boosted its position in L3Harris Technologies Inc (NYSE:LHXFree Report) by 97.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,780 shares of the company’s stock after purchasing an additional 4,818 shares during the period. MGO One Seven LLC’s holdings in L3Harris Technologies were worth $2,453,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the first quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies in the first quarter worth about $26,000. Beacon Capital Management LLC boosted its position in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Independence Bank of Kentucky boosted its position in L3Harris Technologies by 44.4% in the second 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, Cornerstone Planning Group LLC lifted its position in shares of L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after buying an additional 139 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 2.3%

NYSE LHX opened at $300.03 on Wednesday. The stock’s 50 day moving average is $282.49 and its 200 day moving average is $254.14. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The stock has a market cap of $56.14 billion, a PE ratio of 33.52, a P/E/G ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHXGet Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the firm earned $3.24 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s payout ratio is presently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LHX shares. Truist Financial lifted their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $278.19.

Get Our Latest Analysis on L3Harris Technologies

L3Harris Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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