4,427 Shares in L3Harris Technologies Inc $LHX Bought by Jackson Square Capital LLC

Key Points

• Jackson Square Capital LLC has made a new investment in L3Harris Technologies, purchasing approximately $1.11 million worth of stock during the 2nd quarter.
• Analyst ratings for L3Harris Technologies indicate a consensus of "Moderate Buy" with a significant number of firms raising their price targets, with the highest being $323.00 by Citigroup.
• The company announced a quarterly dividend of $1.20, to be paid on September 22nd, representing an annualized yield of 1.7%.

Jackson Square Capital LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,427 shares of the company's stock, valued at approximately $1,110,000.

A number of other institutional investors have also recently modified their holdings of LHX. Clearstead Trust LLC purchased a new stake in L3Harris Technologies during the first quarter worth $26,000. Nova Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the first quarter worth $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 acquired a new position in L3Harris Technologies in the fourth quarter valued at $37,000. Finally, Cornerstone Planning Group LLC increased its stake 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 purchasing an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LHX shares. Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Royal Bank Of Canada boosted 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. UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Truist Financial boosted 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. Finally, Barclays boosted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Stock Performance

LHX traded up $0.94 during trading hours on Friday, hitting $283.67. The company's stock had a trading volume of 1,316,030 shares, compared to its average volume of 953,881. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $286.81. 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 capitalization of $53.07 billion, a PE ratio of 31.70, a PEG ratio of 2.08 and a beta of 0.76. The company has a 50-day simple moving average of $273.51 and a 200 day simple moving average of $244.27.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its 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. 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 for the quarter, compared to analysts' expectations of $5.31 billion. During the same period last year, the firm earned $3.24 EPS. The firm's 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. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is 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.