Jupiter Asset Management Ltd. Acquires New Holdings in L3Harris Technologies Inc $LHX

Jupiter Asset Management Ltd. bought a new position in L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, HoldingsChannel reports. The firm bought 12,365 shares of the company’s stock, valued at approximately $3,102,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiker Wealth Management LLC raised its stake in L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares during the period. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies in the first quarter worth about $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies in the first quarter worth about $26,000. Harbor Asset Planning Inc. acquired a new stake in shares of L3Harris Technologies during the second quarter worth about $32,000. Finally, Independence Bank of Kentucky lifted its holdings in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on LHX shares. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Citigroup upped their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Barclays increased their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $295.63.

L3Harris Technologies Stock Performance

Shares of LHX opened at $288.51 on Friday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The firm has a fifty day simple moving average of $289.84 and a 200 day simple moving average of $266.02. The stock has a market capitalization of $53.97 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.09 and a beta of 0.75. 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 issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.34 EPS. The company’s 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. Research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.