L3Harris Technologies Inc $LHX Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 55.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,989 shares of the company’s stock after acquiring an additional 3,583 shares during the period. Merit Financial Group LLC’s holdings in L3Harris Technologies were worth $3,051,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Cyndeo Wealth Partners LLC increased its stake in shares of L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after purchasing an additional 37 shares during the period. Twin Lakes Capital Management LLC grew its holdings in L3Harris Technologies by 0.3% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after buying an additional 38 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in L3Harris Technologies by 2.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after buying an additional 39 shares in the last quarter. Independence Bank of Kentucky increased its position in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its stake in L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after acquiring an additional 40 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $304.29 on Friday. The company has a 50-day moving average of $287.32 and a 200-day moving average of $279.10. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.84 and a beta of 0.65. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal 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 dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley increased their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Citigroup assumed coverage on shares of L3Harris Technologies in a research report on Thursday, December 11th. They issued a “buy” rating and a $331.00 target price for the company. Truist Financial raised their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $299.93.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.