Maryland State Retirement & Pension System Buys 224 Shares of L3Harris Technologies Inc $LHX

Maryland State Retirement & Pension System raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,077 shares of the company’s stock after purchasing an additional 224 shares during the quarter. Maryland State Retirement & Pension System’s holdings in L3Harris Technologies were worth $2,277,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bar Harbor Wealth Management increased its holdings in shares of L3Harris Technologies by 0.3% during the 2nd quarter. Bar Harbor Wealth Management now owns 18,249 shares of the company’s stock worth $4,578,000 after purchasing an additional 60 shares during the period. Citizens National Bank Trust Department increased its holdings in shares of L3Harris Technologies by 5.2% during the 2nd quarter. Citizens National Bank Trust Department now owns 6,861 shares of the company’s stock worth $1,721,000 after purchasing an additional 337 shares during the period. REAP Financial Group LLC increased its holdings in shares of L3Harris Technologies by 56.3% during the 2nd quarter. REAP Financial Group LLC now owns 200 shares of the company’s stock worth $50,000 after purchasing an additional 72 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 12.2% during the 2nd quarter. Venturi Wealth Management LLC now owns 4,943 shares of the company’s stock worth $1,240,000 after purchasing an additional 538 shares during the period. Finally, BankPlus Trust Department increased its holdings in shares of L3Harris Technologies by 6.9% during 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. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Insiders have sold 195,138 shares of company stock worth $53,571,774 over the last quarter. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $292.45 on Friday. The firm has a market cap of $54.72 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.18 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $281.74 and its two-hundred day moving average price is $252.65.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the business earned $3.24 earnings per share. L3Harris Technologies’s quarterly revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS 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 paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on LHX. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday. UBS Group lifted their target price 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. Truist Financial lifted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays lifted their target price 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. Finally, Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $278.19.

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.