Dean Capital Management Raises Stock Position in L3Harris Technologies Inc $LHX

Key Points

• Dean Capital Management increased its holdings in L3Harris Technologies by 11.5%, owning a total of 9,596 shares valued at approximately $2,009,000 as of its latest SEC filing.
• CEO Christopher E. Kubasik sold 72,000 shares at an average price of $271.14, representing a significant 33.09% decrease in his ownership.
• Several research analysts raised their price targets for L3Harris Technologies, with the average target now at $279.47, and the company has received an overall rating of Moderate Buy.

Dean Capital Management grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,596 shares of the company's stock after purchasing an additional 986 shares during the period. Dean Capital Management's holdings in L3Harris Technologies were worth $2,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LHX. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Beacon Capital Management LLC increased its stake 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 purchasing an additional 58 shares during the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at approximately $37,000. Cornerstone Planning Group LLC boosted its holdings in shares of 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. Finally, WPG Advisers LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $39,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 72,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,472,018.92. This trade represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 145,199 shares of company stock worth $38,555,071 over the last ninety days. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

LHX has been the subject of several research analyst reports. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Robert W. Baird boosted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. UBS Group boosted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Truist Financial lifted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Susquehanna lifted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Performance

LHX stock opened at $273.51 on Tuesday. 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 $51.17 billion, a P/E ratio of 30.56, a P/E/G ratio of 1.99 and a beta of 0.76. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52. The stock's 50 day simple moving average is $269.36 and its 200 day simple moving average is $239.85.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the business 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. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio is presently 53.63%.

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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