Mackenzie Financial Corp Acquires 89,099 Shares of L3Harris Technologies Inc $LHX

Mackenzie Financial Corp grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 446.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,035 shares of the company’s stock after acquiring an additional 89,099 shares during the quarter. Mackenzie Financial Corp owned 0.06% of L3Harris Technologies worth $27,350,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of L3Harris Technologies by 63.4% in the 1st quarter. Arkadios Wealth Advisors now owns 2,373 shares of the company’s stock valued at $497,000 after acquiring an additional 921 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of L3Harris Technologies by 10.5% during the 1st quarter. Harbour Investments Inc. now owns 1,691 shares of the company’s stock valued at $354,000 after acquiring an additional 160 shares in the last quarter. Jefferies Financial Group Inc. grew its position in L3Harris Technologies by 7.6% during the 1st quarter. Jefferies Financial Group Inc. now owns 1,188 shares of the company’s stock worth $249,000 after acquiring an additional 84 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in L3Harris Technologies by 1.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 88,080 shares of the company’s stock worth $18,436,000 after purchasing an additional 1,414 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Truist Financial lifted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. BNP Paribas Exane assumed coverage on shares of L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $295.00.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $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 is available at the SEC website. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 0.6%

Shares of NYSE LHX opened at $277.92 on Monday. The company has a market capitalization of $51.99 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company’s 50 day moving average price is $290.37 and its 200-day moving average price is $271.49.

L3Harris Technologies (NYSE:LHX) last announced its 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 the consensus estimate of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

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.