Callan Family Office LLC Increases Holdings in L3Harris Technologies Inc $LHX

Key Points

• Callan Family Office LLC increased its stake in L3Harris Technologies Inc by 104.4%, owning 5,558 shares worth approximately $1.39 million at the end of the second quarter.
• L3Harris reported a quarterly EPS of $2.78, exceeding analyst expectations, with a revenue increase of 2.4% year-over-year.
• The company announced a quarterly dividend of $1.20, reflecting a dividend yield of 1.6% and a payout ratio of 53.63%.

Callan Family Office LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 104.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,558 shares of the company's stock after purchasing an additional 2,839 shares during the period. Callan Family Office LLC's holdings in L3Harris Technologies were worth $1,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LHX. Clearstead Trust LLC purchased a new stake in L3Harris Technologies during the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the first quarter worth $26,000. Beacon Capital Management LLC lifted its holdings in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after buying an additional 58 shares during the period. Independence Bank of Kentucky lifted its holdings in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after buying an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $292.45 on Monday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The stock has a fifty day moving average price of $281.74 and a 200-day moving average price of $253.22. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm has a market cap of $54.72 billion, a PE ratio of 32.68, a P/E/G ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the firm earned $3.24 EPS. The firm's revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on LHX shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a report on Wednesday. UBS Group upped their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $278.19.

L3Harris Technologies Company 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.

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