L3Harris Technologies Inc $LHX Shares Acquired by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB increased its stake in L3Harris Technologies Inc by 2.9% during the second quarter, bringing its holdings to 69,255 shares valued at approximately $17.37 million.
• Equities analysts have given L3Harris a consensus rating of "Moderate Buy" with an average price target of $279.47, reflecting positive sentiment towards the stock amidst recent upgrades.
• The company recently declared a quarterly dividend of $1.20 per share, representing an annualized yield of 1.7%, with a payout ratio of 53.63%.

MassMutual Private Wealth & Trust FSB increased its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,255 shares of the company's stock after acquiring an additional 1,961 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in L3Harris Technologies were worth $17,372,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LHX. Norway Savings Bank boosted its holdings in shares of L3Harris Technologies by 3.0% during the second quarter. Norway Savings Bank now owns 1,490 shares of the company's stock valued at $374,000 after acquiring an additional 44 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of L3Harris Technologies by 3.7% during the second quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company's stock valued at $314,000 after acquiring an additional 45 shares during the period. Transce3nd LLC boosted its holdings in shares of L3Harris Technologies by 7.9% during the first quarter. Transce3nd LLC now owns 652 shares of the company's stock valued at $137,000 after acquiring an additional 48 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 3.1% during the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after acquiring an additional 50 shares during the period. Finally, Bard Financial Services Inc. boosted its holdings in shares of L3Harris Technologies by 1.0% during the second quarter. Bard Financial Services Inc. now owns 4,950 shares of the company's stock valued at $1,242,000 after acquiring an additional 50 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target 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. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. UBS Group lifted their price objective 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. Susquehanna lifted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Price Performance

Shares of LHX opened at $281.76 on Tuesday. The company has a market capitalization of $52.72 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 2.04 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $282.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The business's 50-day moving average is $271.59 and its 200-day moving average is $242.44.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors 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 1.7%. L3Harris Technologies's payout ratio is presently 53.63%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business's 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 sale, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company's stock.

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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