L3Harris Technologies Inc $LHX Stock Position Raised by Gold Investment Management Ltd.

Key Points

• Gold Investment Management Ltd. increased its stake in L3Harris Technologies by 108.4% during the 2nd quarter, now owning 1,738 shares worth approximately $437,000.
• CEO Christopher E. Kubasik sold 83,000 shares for over $23 million, resulting in a 36.31% decrease in his ownership.
• Analysts have a consensus rating of "Moderate Buy" for L3Harris Technologies with an average price target of $279.47, following several price target upgrades from various firms.

Gold Investment Management Ltd. lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 108.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,738 shares of the company's stock after acquiring an additional 904 shares during the quarter. Gold Investment Management Ltd.'s holdings in L3Harris Technologies were worth $437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Pure Financial Advisors LLC raised its holdings in shares of L3Harris Technologies by 13.0% during the second quarter. Pure Financial Advisors LLC now owns 1,586 shares of the company's stock worth $398,000 after acquiring an additional 182 shares in the last quarter. Woodward Diversified Capital LLC bought a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $346,000. Vigilare Wealth Management acquired a new stake in L3Harris Technologies during the second quarter worth about $563,000. PFG Investments LLC grew its position in L3Harris Technologies by 24.6% during the second quarter. PFG Investments LLC now owns 1,664 shares of the company's stock worth $417,000 after buying an additional 328 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new stake in L3Harris Technologies during the second quarter valued at approximately $232,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 over the last ninety days. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 1.5%

Shares of LHX stock opened at $300.80 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm's 50-day moving average is $278.03 and its 200-day moving average is $248.41. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.23 and a beta of 0.76. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $305.94.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies's payout ratio is 53.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. UBS Group lifted their target price 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. Robert W. Baird boosted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Barclays boosted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $279.47.

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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