Paradoxiom Capital L.P. Buys Shares of 8,382 L3Harris Technologies Inc $LHX

Key Points

• Paradoxiom Capital L.P. acquired 8,382 shares of L3Harris Technologies Inc during Q1, with the investment valued at approximately $1.75 million.
• L3Harris Technologies recently reported earnings of $2.78 per share, exceeding expectations and showing a year-over-year revenue increase of 2.4%.
• The company announced a quarterly dividend of $1.20 per share, representing an annual yield of 1.8%, to be paid on September 22nd.

Paradoxiom Capital L.P. bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,382 shares of the company's stock, valued at approximately $1,754,000.

Several other large investors also recently added to or reduced their stakes in the company. Transce3nd LLC raised its stake in L3Harris Technologies by 7.9% during the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock valued at $137,000 after purchasing an additional 48 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after acquiring an additional 50 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in shares of L3Harris Technologies by 2.2% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 2,404 shares of the company's stock worth $503,000 after acquiring an additional 51 shares during the last quarter. Northstar Financial Companies Inc. increased its stake in shares of L3Harris Technologies by 2.7% in the first quarter. Northstar Financial Companies Inc. now owns 2,009 shares of the company's stock worth $421,000 after acquiring an additional 52 shares during the last quarter. Finally, CWC Advisors LLC. increased its stake in shares of L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after acquiring an additional 53 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.2%

L3Harris Technologies stock opened at $272.35 on Friday. 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 company has a market capitalization of $50.96 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.00 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The company's fifty day moving average price is $268.92 and its two-hundred day moving average price is $238.74.

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

L3Harris Technologies Announces Dividend

The firm 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. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the 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 transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 145,199 shares of company stock worth $38,555,071 over the last 90 days. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LHX. UBS Group upped their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Truist Financial upped their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Susquehanna upped their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock 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. Finally, Barclays upped their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. 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, the stock has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.