Mirae Asset Global Investments Co. Ltd. Acquires 1,823 Shares of L3Harris Technologies Inc $LHX

Key Points

• Mirae Asset Global Investments increased its stake in L3Harris Technologies by 7.3%, acquiring an additional 1,823 shares during the second quarter, now totaling 26,691 shares worth $6,695,000.
• Several institutional investors are also actively adjusting their positions, with Brighton Jones LLC growing its stake by an impressive 233.9% in the last quarter.
• Analysts have raised their price targets for L3Harris Technologies, with estimates now at a range of $262.00 to $302.00 and a general consensus rating of "Moderate Buy."

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,691 shares of the company's stock after acquiring an additional 1,823 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in L3Harris Technologies were worth $6,695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the last quarter. Pines Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth $240,000. Wedmont Private Capital increased its holdings in shares of L3Harris Technologies by 9.8% during the first quarter. Wedmont Private Capital now owns 1,109 shares of the company's stock valued at $246,000 after acquiring an additional 99 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of L3Harris Technologies by 24.4% in the 1st quarter. Park Avenue Securities LLC now owns 6,919 shares of the company's stock worth $1,448,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in L3Harris Technologies by 1.3% in the 1st quarter. Meridian Financial Partners LLC now owns 5,815 shares of the company's stock worth $1,217,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial raised 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. UBS Group raised their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of L3Harris Technologies in a research note on Saturday, September 27th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's 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 transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last 90 days. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

LHX opened at $297.52 on Monday. The company's 50 day moving average is $279.07 and its 200 day moving average is $250.10. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market cap of $55.67 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.17 and a beta of 0.76. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month 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, 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 the consensus estimate of $5.31 billion. During the same period last year, the firm earned $3.24 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

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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