35,065 Shares in L3Harris Technologies Inc $LHX Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 35,065 shares of the company’s stock, valued at approximately $8,796,000.

Several other large investors have also made changes to their positions in the business. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies during the first quarter worth $26,000. Kiker Wealth Management LLC grew its stake in shares of L3Harris Technologies by 137.0% during 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 during the period. Harbor Asset Planning Inc. purchased a new position in shares of L3Harris Technologies during the 2nd quarter valued at approximately $32,000. Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in L3Harris Technologies during the second quarter worth $34,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. UBS Group lifted their price target on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Morgan Stanley increased their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Citigroup assumed coverage on L3Harris Technologies in a report on Thursday. They issued a “buy” rating and a $331.00 price objective on the stock. Finally, BNP Paribas raised L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $295.50.

L3Harris Technologies Price Performance

NYSE:LHX opened at $286.84 on Monday. The stock has a 50 day moving average of $287.77 and a two-hundred day moving average of $274.62. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The firm has a market cap of $53.65 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 2.09 and a beta of 0.65. 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. The ex-dividend date was 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 presently 51.56%.

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.