HM Payson & Co. Has $133.59 Million Stock Position in L3Harris Technologies Inc $LHX

HM Payson & Co. cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 19.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437,410 shares of the company’s stock after selling 103,023 shares during the quarter. L3Harris Technologies makes up 1.9% of HM Payson & Co.’s holdings, making the stock its 15th biggest holding. HM Payson & Co. owned approximately 0.23% of L3Harris Technologies worth $133,589,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $26,000. Kiker Wealth Management LLC boosted its position in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of L3Harris Technologies during the second quarter worth $32,000. Independence Bank of Kentucky lifted its stake in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.5%

Shares of NYSE:LHX opened at $296.69 on Monday. 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 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The business’s 50-day moving average is $286.85 and its 200-day moving average is $277.91. The company has a market capitalization of $55.50 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.16 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the company posted $3.34 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is currently 51.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of L3Harris Technologies in a research report on Monday, December 22nd. Finally, Morgan Stanley raised their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $295.50.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.