Mitchell Mcleod Pugh & Williams Inc. Makes New Investment in L3Harris Technologies Inc $LHX

Mitchell Mcleod Pugh & Williams Inc. bought a new position in L3Harris Technologies Inc (NYSE:LHX) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,585 shares of the company’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies in the 1st quarter worth $26,000. Beacon Capital Management LLC increased its stake in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Kiker Wealth Management LLC increased its stake in shares of L3Harris Technologies by 137.0% in the 2nd 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 last quarter. Finally, Independence Bank of Kentucky increased its stake in shares of L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $300.03 on Wednesday. The business has a 50-day moving average of $282.49 and a 200 day moving average of $254.14. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The stock has a market capitalization of $56.14 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. 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 earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period last year, the business posted $3.24 EPS. L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts forecast 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. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Citigroup increased their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. UBS Group increased their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Royal Bank Of Canada increased their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.19.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. Company 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.