MGO One Seven LLC Increases Stock Holdings in L3Harris Technologies Inc $LHX

MGO One Seven LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 97.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,780 shares of the company's stock after acquiring an additional 4,818 shares during the quarter. MGO One Seven LLC's holdings in L3Harris Technologies were worth $2,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Nuveen LLC purchased a new stake in L3Harris Technologies in the first quarter worth $299,157,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company's stock worth $164,297,000 after acquiring an additional 709,948 shares during the period. Wellington Management Group LLP lifted its stake in L3Harris Technologies by 12.2% in the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after acquiring an additional 557,610 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after acquiring an additional 311,886 shares during the period. Finally, Appaloosa LP bought a new position in L3Harris Technologies in the first quarter worth $62,793,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated 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 directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on LHX. Truist Financial increased their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Finally, Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $278.19.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $300.03 on Wednesday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. 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 has a fifty day moving average price of $282.49 and a 200-day moving average price of $254.14. The company has a market capitalization of $56.14 billion, a PE ratio of 33.52, a PEG ratio of 2.14 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data 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 return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the company earned $3.24 EPS. 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 analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

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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