Eisler Capital Management Ltd. Cuts Stock Position in L3Harris Technologies Inc $LHX

Eisler Capital Management Ltd. lessened its holdings in L3Harris Technologies Inc (NYSE:LHX) by 41.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,190 shares of the company’s stock after selling 45,566 shares during the quarter. Eisler Capital Management Ltd.’s holdings in L3Harris Technologies were worth $15,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies in the 1st quarter worth about $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the first quarter worth about $26,000. Kiker Wealth Management LLC raised its position in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares during the period. Harbor Asset Planning Inc. purchased a new position in L3Harris Technologies in the second quarter valued at about $32,000. Finally, Independence Bank of Kentucky boosted its stake in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 2.3%

Shares of LHX stock opened at $277.70 on Friday. The stock has a market capitalization of $51.94 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.09 and a beta of 0.75. The company’s fifty day simple moving average is $291.00 and its two-hundred day simple moving average is $269.10. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the business earned $3.34 earnings per share. The firm’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. As a group, analysts anticipate 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 will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 51.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. UBS Group increased their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $295.29.

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.