Mubadala Investment Co PJSC Increases Position in L3Harris Technologies Inc $LHX

Key Points

• Mubadala Investment Co PJSC increased its stake in L3Harris Technologies by 14.6%, acquiring an additional 2,304 shares, bringing its total to 18,084 shares valued at approximately $3.78 million.
• CEO Christopher E. Kubasik sold 72,000 shares of L3Harris at an average price of $271.14, reducing his ownership by 33.09% but still retaining 145,578 shares valued at around $39.47 million.
• Analysts have increased their target prices for L3Harris Technologies, with estimates ranging from $280 to $305, reflecting a consensus rating of "Moderate Buy" and a projected earnings per share of 11.12 for the current fiscal year.

Mubadala Investment Co PJSC raised its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,084 shares of the company's stock after purchasing an additional 2,304 shares during the quarter. L3Harris Technologies accounts for approximately 0.0% of Mubadala Investment Co PJSC's portfolio, making the stock its 22nd largest position. Mubadala Investment Co PJSC's holdings in L3Harris Technologies were worth $3,785,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Clearstead Trust LLC purchased a new stake in L3Harris Technologies in the first quarter valued at approximately $26,000. Beacon Capital Management LLC increased its position 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 acquiring an additional 58 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $37,000. Cornerstone Planning Group LLC increased its position 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 acquiring an additional 139 shares during the period. Finally, WPG Advisers LLC purchased a new stake in shares of L3Harris Technologies during the first quarter worth $39,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 145,199 shares of company stock valued at $38,555,071 in the last three months. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

NYSE LHX traded down $2.38 during trading hours on Wednesday, hitting $272.74. The company had a trading volume of 1,106,563 shares, compared to its average volume of 1,412,845. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $280.52. The company has a market cap of $51.03 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. The business has a 50 day moving average of $267.41 and a 200-day moving average of $237.44.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) 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 the consensus estimate of $5.31 billion. During the same quarter in the prior year, the firm posted $3.24 earnings per share. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Barclays upped their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird upped their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Susquehanna upped their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $279.47.

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.