SCS Capital Management LLC Invests $235,000 in L3Harris Technologies Inc $LHX

Key Points

• SCS Capital Management LLC invested $235,000 in L3Harris Technologies Inc by purchasing 1,124 shares during the first quarter.
• CEO Christopher E. Kubasik sold 83,000 shares valued at approximately $23.2 million, resulting in a significant decrease of 36.31% in his total holdings.
• L3Harris Technologies has announced a quarterly dividend of $1.20, representing an annualized dividend of $4.80 and a dividend yield of 1.7%.

SCS Capital Management LLC purchased a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,124 shares of the company's stock, valued at approximately $235,000.

A number of other institutional investors have also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of L3Harris Technologies by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 537,264 shares of the company's stock worth $112,455,000 after buying an additional 15,450 shares during the last quarter. Woodline Partners LP increased its holdings in shares of L3Harris Technologies by 8.0% in the 1st quarter. Woodline Partners LP now owns 233,999 shares of the company's stock worth $48,978,000 after buying an additional 17,256 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of L3Harris Technologies by 5.5% in the 1st quarter. Empowered Funds LLC now owns 20,826 shares of the company's stock valued at $4,359,000 after purchasing an additional 1,091 shares in the last quarter. Dean Capital Management boosted its stake in shares of L3Harris Technologies by 11.5% in the 1st quarter. Dean Capital Management now owns 9,596 shares of the company's stock valued at $2,009,000 after purchasing an additional 986 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at $310,000. Institutional investors own 84.76% of the company's stock.

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 shares were 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 of the company's stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Down 0.5%

NYSE:LHX opened at $279.22 on Friday. The company has a 50-day moving average price of $271.08 and a 200-day moving average price of $241.38. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $281.67. 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 stock has a market cap of $52.24 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 2.05 and a beta of 0.76.

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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same period last year, the company posted $3.24 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LHX shares. Royal Bank Of Canada upped 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. Truist Financial upped 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. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Barclays upped their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, UBS Group upped their price objective 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. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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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