L3Harris Technologies Inc $LHX Stock: Calamos Advisors LLC Increases Stake

Calamos Advisors LLC increased its position in L3Harris Technologies Inc (NYSE:LHX) by 164.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,080 shares of the company’s stock after acquiring an additional 148,604 shares during the quarter. Calamos Advisors LLC’s holdings in L3Harris Technologies were worth $56,609,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of L3Harris Technologies in the second quarter worth $5,525,806,000. State Street Corp boosted its holdings in L3Harris Technologies by 2.9% in the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock worth $2,643,600,000 after buying an additional 252,662 shares during the period. Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock worth $1,367,832,000 after buying an additional 313,431 shares during the period. Bank of New York Mellon Corp purchased a new stake in L3Harris Technologies in the 2nd quarter worth $752,983,000. Finally, Bank of America Corp DE increased its stake in L3Harris Technologies by 22.3% in the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock worth $661,905,000 after buying an additional 350,313 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX traded up $2.13 during midday trading on Friday, hitting $260.24. 1,797,639 shares of the company traded hands, compared to its average volume of 1,796,398. The firm has a 50 day moving average of $250.16 and a 200-day moving average of $303.18. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23. The stock has a market cap of $48.46 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.68 and a beta of 0.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that L3Harris Technologies Inc will post 12.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.64%.

Analyst Ratings Changes

Several brokerages have recently commented on LHX. Susquehanna lowered their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Weiss Ratings cut L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Jefferies Financial Group downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Wednesday, August 26th. Finally, Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $345.60.

L3Harris Technologies Company Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies.

The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.

L3Harris was formed in 2019 through the merger of L3 Technologies and Harris Corporation.