L3Harris Technologies Inc $LHX is Game Creek Capital LP’s 6th Largest Position

Game Creek Capital LP reduced its holdings in L3Harris Technologies Inc (NYSE:LHX) by 21.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 24,750 shares of the company’s stock after selling 6,750 shares during the quarter. L3Harris Technologies accounts for about 2.7% of Game Creek Capital LP’s investment portfolio, making the stock its 6th largest holding. Game Creek Capital LP’s holdings in L3Harris Technologies were worth $6,208,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gold Investment Management Ltd. raised its holdings in shares of L3Harris Technologies by 108.4% during 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 last quarter. BankPlus Trust Department grew its position in L3Harris Technologies by 6.9% in the 2nd 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 raised its stake in L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after buying an additional 33,019 shares during the last quarter. US Bancorp DE lifted its holdings 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, Synergy Asset Management LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at $1,218,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.0%

L3Harris Technologies stock opened at $286.84 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 market capitalization of $53.65 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 2.03 and a beta of 0.65. The firm has a 50 day moving average of $287.77 and a 200 day moving average of $274.23. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted 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. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s payout ratio is presently 51.56%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on LHX. Truist Financial lifted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. BNP Paribas Exane initiated coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target for the company. Morgan Stanley increased their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Citigroup assumed coverage on shares of L3Harris Technologies in a report on Thursday. They set a “buy” rating and a $331.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $295.50.

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.