Freemont Management S.A. Invests $10.03 Million in L3Harris Technologies Inc $LHX

Freemont Management S.A. bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,000 shares of the company’s stock, valued at approximately $10,034,000. L3Harris Technologies makes up approximately 1.5% of Freemont Management S.A.’s holdings, making the stock its 22nd biggest position.

Other institutional investors have also bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies in the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies during the 1st quarter valued at approximately $26,000. Kiker Wealth Management LLC lifted its holdings in L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $32,000. Finally, Independence Bank of Kentucky grew its holdings in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Morgan Stanley lifted their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $295.63.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $290.67 on Friday. The company’s 50-day moving average price is $288.06 and its 200-day moving average price is $263.77. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $54.37 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business posted $3.34 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by insiders.

About L3Harris Technologies

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.