Columbus Macro LLC Purchases 1,952 Shares of L3Harris Technologies Inc $LHX

Key Points

• Columbus Macro LLC increased its holdings in L3Harris Technologies by 8.4%, acquiring an additional 1,952 shares, bringing its total to 25,250 shares valued at approximately $6.33 million.
• CEO Christopher E. Kubasik sold 83,000 shares at an average price of $279.90, resulting in a total transaction value of $23.23 million, decreasing his ownership of the stock by 36.31%.
• L3Harris Technologies recently announced a $1.20 quarterly dividend, yielding 1.6% annualized, with a payout ratio of 53.63% based on its latest earnings report.

Columbus Macro LLC increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,250 shares of the company's stock after purchasing an additional 1,952 shares during the period. Columbus Macro LLC's holdings in L3Harris Technologies were worth $6,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies in the first quarter valued at $26,000. Independence Bank of Kentucky grew 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 valued at $33,000 after acquiring an additional 40 shares during the period. Beacon Capital Management LLC grew 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 valued at $27,000 after acquiring an additional 58 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after acquiring an additional 139 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated 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 owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last quarter. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 1.8%

Shares of LHX opened at $306.83 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.04 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 $306.83. The firm has a market capitalization of $57.41 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76. The stock's fifty day simple moving average is $280.99 and its 200-day simple moving average is $251.50.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the firm posted $3.24 earnings per share. The firm's revenue for the quarter 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. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Ratings Changes

LHX has been the topic of a number of analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Truist Financial upped their price target on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price target 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. Susquehanna upped their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday. Fourteen 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, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies 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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