Meridian Management Co. Invests $250,000 in L3Harris Technologies Inc $LHX

Meridian Management Co. acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 910 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in LHX. Gold Investment Management Ltd. grew its stake in L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after purchasing an additional 904 shares during the last quarter. BankPlus Trust Department grew its stake in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after acquiring an additional 379 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after acquiring an additional 33,019 shares during the last quarter. US Bancorp DE grew its stake in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after acquiring an additional 5,526 shares during the last quarter. Finally, Dean Capital Management grew its stake in shares of L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after acquiring an additional 986 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LHX shares. Morgan Stanley boosted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.31.

L3Harris Technologies Trading Down 2.3%

Shares of NYSE:LHX opened at $289.07 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The company has a market capitalization of $54.08 billion, a PE ratio of 32.30, a PEG ratio of 2.09 and a beta of 0.76. The business has a 50 day moving average of $286.92 and a two-hundred day moving average of $261.61. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, analysts forecast 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 Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

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.