L3Harris Technologies Inc $LHX Stake Boosted by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. increased its stake in L3Harris Technologies by 14.9% during the first quarter, now owning 124,107 shares valued at approximately $25.98 million.
• Wall Street analysts are optimistic, with price targets for L3Harris Technologies rising, including upgrades from firms like Robert W. Baird and Truist Financial, resulting in a consensus target price of $279.47.
• The company has announced a quarterly dividend of $1.20 per share, yielding around 1.7%, with the ex-dividend date set for September 5th.

Osterweis Capital Management Inc. grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,107 shares of the company's stock after acquiring an additional 16,091 shares during the period. Osterweis Capital Management Inc. owned 0.07% of L3Harris Technologies worth $25,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Modern Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at $204,000. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at $26,000. Strs Ohio purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at $28,274,000. Advisors Capital Management LLC grew its holdings in shares of L3Harris Technologies by 1.4% during the 1st quarter. Advisors Capital Management LLC now owns 34,829 shares of the company's stock valued at $7,290,000 after acquiring an additional 492 shares in the last quarter. Finally, Twin Lakes Capital Management LLC grew its holdings in shares of L3Harris Technologies by 0.4% during the 1st quarter. Twin Lakes Capital Management LLC now owns 14,259 shares of the company's stock valued at $2,985,000 after acquiring an additional 51 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LHX. Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" 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. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Stock Up 1.8%

L3Harris Technologies stock opened at $280.62 on Friday. The firm has a market cap of $52.50 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 2.02 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.69. The firm has a fifty day moving average price of $270.63 and a two-hundred day moving average price of $240.87.

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

L3Harris Technologies Dividend Announcement

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

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the business's 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 of the company's stock, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

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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