Elo Mutual Pension Insurance Co Makes New Investment in L3Harris Technologies Inc $LHX

by · The Markets Daily

Elo Mutual Pension Insurance Co purchased a new stake in L3Harris Technologies Inc (NYSE:LHX – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 21,487 shares of the company’s stock, valued at approximately $5,390,000.

Other hedge funds have also made changes to their positions in the company. Gold Investment Management Ltd. grew its holdings 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 period. BankPlus Trust Department raised its stake in 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 purchasing an additional 379 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of L3Harris Technologies by 20.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after purchasing 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 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after buying an additional 5,526 shares during the period. Finally, Dean Capital Management increased its holdings in shares of L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after buying an additional 986 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LHX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of L3Harris Technologies in a report on Wednesday, November 19th. UBS Group raised their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. BNP Paribas raised L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.00.

View Our Latest Analysis on LHX

L3Harris Technologies Price Performance

LHX stock opened at $276.36 on Wednesday. The firm has a market cap of $51.69 billion, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The stock has a 50-day simple moving average of $290.72 and a 200-day simple moving average of $270.27.

L3Harris Technologies (NYSE:LHX – Get Free Report) 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. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.34 EPS. L3Harris Technologies’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s payout ratio is 51.56%.

About L3Harris Technologies

(Free Report)

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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