MAI Capital Management Boosts Stock Position in L3Harris Technologies Inc $LHX

MAI Capital Management increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 29,558 shares of the company’s stock after acquiring an additional 262 shares during the period. MAI Capital Management’s holdings in L3Harris Technologies were worth $7,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in L3Harris Technologies in the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the first quarter worth $26,000. Kiker Wealth Management LLC raised its position in shares of 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 during the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of L3Harris Technologies in the second quarter worth about $32,000. Finally, Independence Bank of Kentucky boosted its position in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $277.70 on Friday. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The stock’s fifty day moving average is $291.00 and its two-hundred day moving average is $269.10. The company has a market capitalization of $51.94 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.09 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts expect 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 will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Truist Financial increased their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of L3Harris Technologies in a research report on Wednesday. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, Barclays raised their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $295.29.

L3Harris Technologies 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.