iSAM Funds UK Ltd Buys New Stake in L3Harris Technologies Inc $LHX

iSAM Funds UK Ltd bought a new position in L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 11,589 shares of the company’s stock, valued at approximately $2,907,000. L3Harris Technologies comprises about 0.6% of iSAM Funds UK Ltd’s holdings, making the stock its 19th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of LHX. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies in the 1st quarter worth about $26,000. Kiker Wealth Management LLC increased its stake in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 63 shares during the period. Harbor Asset Planning Inc. purchased a new position in L3Harris Technologies during the second quarter valued at approximately $32,000. Independence Bank of Kentucky raised its position 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 in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $281.44 on Tuesday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The business has a fifty day moving average of $288.97 and a two-hundred day moving average of $273.41. The stock has a market cap of $52.64 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.95 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid 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 dividend payout ratio (DPR) is presently 51.56%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LHX shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Truist Financial upped their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Morgan Stanley lifted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.00.

Insider Buying and Selling

In other L3Harris Technologies 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 value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is owned by company insiders.

L3Harris Technologies 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.