SG Americas Securities LLC Acquires 4,428 Shares of L3Harris Technologies Inc $LHX

SG Americas Securities LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,555 shares of the company’s stock after purchasing an additional 4,428 shares during the quarter. SG Americas Securities LLC’s holdings in L3Harris Technologies were worth $7,499,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after buying an additional 1,413,833 shares in the last quarter. AGF Management Ltd. bought a new position in shares of L3Harris Technologies during the second quarter worth $324,940,000. Boston Partners boosted its position in shares of L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after acquiring an additional 838,546 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in L3Harris Technologies by 8,284.6% during the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after acquiring an additional 766,075 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in L3Harris Technologies by 155.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after acquiring an additional 376,499 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Morgan Stanley increased their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $302.29.

L3Harris Technologies Trading Up 3.2%

Shares of LHX stock opened at $336.07 on Friday. The company has a market cap of $62.86 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.04 and a beta of 0.66. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $338.23. The stock’s 50 day simple moving average is $290.29 and its two-hundred day simple moving average is $281.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95.

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

L3Harris Technologies Dividend Announcement

The company also recently announced 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 of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 51.56%.

L3Harris Technologies Company Profile

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.