DMC Group LLC Has $303,000 Stock Position in L3Harris Technologies Inc $LHX

Key Points

• DMC Group LLC reduced its stock position in L3Harris Technologies by 46.6%, now holding 1,207 shares worth $303,000 following the sale of 1,052 shares in the second quarter.
• CEO Christopher E. Kubasik sold 83,000 shares for over $23 million, indicating a 36.31% decrease in their ownership of the company's stock.
• Analysts have recently adjusted their price targets for L3Harris Technologies, with Royal Bank of Canada raising it to $280.00, and Citigroup lifting it to $323.00, reflecting a consensus rating of "Moderate Buy."

DMC Group LLC decreased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 46.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,207 shares of the company's stock after selling 1,052 shares during the period. DMC Group LLC's holdings in L3Harris Technologies were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky boosted its position in shares of L3Harris Technologies by 44.4% in 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. DB Fitzpatrick & Co Inc boosted its position in L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company's stock worth $1,116,000 after acquiring an additional 42 shares during the period. Norway Savings Bank boosted its position in L3Harris Technologies by 3.0% during the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company's stock worth $374,000 after acquiring an additional 44 shares during the period. Salem Investment Counselors Inc. boosted its position in L3Harris Technologies by 3.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock worth $314,000 after acquiring an additional 45 shares during the period. Finally, BankPlus Wealth Management LLC boosted its position in L3Harris Technologies by 2.2% during the 2nd quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company's stock worth $528,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Citigroup lifted their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Price Performance

NYSE:LHX opened at $301.58 on Wednesday. The stock has a market cap of $56.43 billion, a P/E ratio of 33.70, a PEG ratio of 2.22 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $305.94. The company has a fifty day moving average price of $280.33 and a 200 day moving average price of $251.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts anticipate 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. Stockholders of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio is presently 53.63%.

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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