Caxton Associates LLP Takes Position in L3Harris Technologies Inc $LHX

Key Points

• Caxton Associates LLP has invested $926,000 in L3Harris Technologies Inc, acquiring 4,426 shares of the company's stock during the first quarter.
• In Q2 earnings, L3Harris reported $2.78 EPS, surpassing estimates and showing a 2.4% year-over-year revenue increase to $5.43 billion.
• The company announced a quarterly dividend of $1.20 per share, with a total annualized dividend of $4.80, representing a 1.7% yield.

Caxton Associates LLP acquired a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,426 shares of the company's stock, valued at approximately $926,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transce3nd LLC lifted its holdings in shares of L3Harris Technologies by 7.9% in the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after acquiring an additional 48 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 3.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after buying an additional 50 shares during the period. Cobblestone Capital Advisors LLC NY boosted its holdings in L3Harris Technologies by 2.2% during the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 2,404 shares of the company's stock valued at $503,000 after acquiring an additional 51 shares during the period. Northstar Financial Companies Inc. increased its stake in L3Harris Technologies by 2.7% during the first quarter. Northstar Financial Companies Inc. now owns 2,009 shares of the company's stock worth $421,000 after purchasing an additional 52 shares during the period. Finally, CWC Advisors LLC. grew its holdings in shares of L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after purchasing an additional 53 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE LHX traded down $1.41 during trading hours on Friday, hitting $279.22. The company had a trading volume of 800,756 shares, compared to its average volume of 990,507. The business has a 50 day moving average of $271.08 and a 200-day moving average of $241.38. The company has a market cap of $52.24 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $281.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's payout ratio is presently 53.63%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. UBS Group increased their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Susquehanna boosted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Robert W. Baird boosted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average price target of $279.47.

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.