GAMMA Investing LLC Grows Stake in L3Harris Technologies Inc $LHX

GAMMA Investing LLC raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 27.3% during the second quarter, Holdings Channel reports. The fund owned 3,122 shares of the company’s stock after buying an additional 670 shares during the period. GAMMA Investing LLC’s holdings in L3Harris Technologies were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies in the first quarter valued at about $26,000. Beacon Capital Management LLC boosted its stake in L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC boosted its stake in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Susquehanna boosted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Citigroup boosted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. UBS Group boosted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Barclays boosted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $284.27 on Thursday. The firm’s 50 day simple moving average is $274.85 and its 200 day simple moving average is $245.49. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $53.19 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $288.23.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

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.