L3Harris Technologies Inc $LHX Shares Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in L3Harris Technologies by 15.1%, owning 241,980 shares valued at approximately $60.7 million.
• L3Harris Technologies reported a quarterly earnings per share (EPS) of $2.78, exceeding the consensus estimate of $2.48, indicating a 2.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $1.20, which represents an annual yield of 1.7% and a payout ratio of 53.63%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 15.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 241,980 shares of the company's stock after buying an additional 31,700 shares during the quarter. L3Harris Technologies makes up about 1.7% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings, making the stock its 17th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.13% of L3Harris Technologies worth $60,698,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after buying an additional 216 shares in the last quarter. Dean Capital Management lifted its stake in shares of L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company's stock worth $2,009,000 after purchasing an additional 986 shares during the period. Salvus Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth $232,000. MBB Public Markets I LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter worth $310,000. Finally, Osterweis Capital Management Inc. lifted its stake in shares of L3Harris Technologies by 14.9% during the 1st quarter. Osterweis Capital Management Inc. now owns 124,107 shares of the company's stock worth $25,977,000 after purchasing an additional 16,091 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Susquehanna increased their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. UBS Group upped their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Truist Financial increased 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. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Stock Down 0.7%

Shares of L3Harris Technologies stock opened at $284.27 on Thursday. The business has a 50-day moving average of $274.85 and a 200-day moving average of $245.49. 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 company has a market capitalization of $53.19 billion, a PE ratio of 31.76, a P/E/G ratio of 2.09 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $288.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping 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 business had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter last year, the company posted $3.24 earnings per share. The company'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. As a group, equities analysts forecast 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 was paid on Monday, September 22nd. Shareholders 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 yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 over the last quarter. Company insiders own 0.72% of the company's stock.

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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