Eisler Capital Management Ltd. Buys 61,522 Shares of L3Harris Technologies Inc $LHX

Key Points

• Eisler Capital Management Ltd. has increased its stake in L3Harris Technologies Inc by 130.2%, acquiring an additional 61,522 shares to hold a total of 108,756 shares.
• CEO Christopher E. Kubasik sold 72,000 shares of L3Harris stock for approximately $19.5 million, decreasing his ownership by 33.09%.
• L3Harris Technologies recently announced a quarterly dividend of $1.20 per share, providing a yield of 1.7% for its investors.

Eisler Capital Management Ltd. grew its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 130.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,756 shares of the company's stock after acquiring an additional 61,522 shares during the period. L3Harris Technologies accounts for about 0.2% of Eisler Capital Management Ltd.'s investment portfolio, making the stock its 13th biggest position. Eisler Capital Management Ltd. owned approximately 0.06% of L3Harris Technologies worth $22,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies during the first quarter worth approximately $26,000. Beacon Capital Management LLC raised its stake in shares of 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 last quarter. Park Square Financial Group LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $37,000. Cornerstone Planning Group LLC raised its stake in shares of 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 last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of L3Harris Technologies during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were 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 in the company, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 145,199 shares of company stock worth $38,555,071 in the last ninety days. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LHX. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Citigroup boosted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. Robert W. Baird boosted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Susquehanna boosted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Stock Up 0.6%

L3Harris Technologies stock opened at $277.91 on Wednesday. The stock has a market capitalization of $52.00 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $264.63 and a 200-day moving average of $234.87.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter in the prior year, the company earned $3.24 earnings per share. The business's quarterly revenue 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. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.

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