Pilgrim Partners Asia Pte Ltd Buys New Position in L3Harris Technologies Inc $LHX

Pilgrim Partners Asia Pte Ltd purchased a new position in L3Harris Technologies Inc (NYSE:LHX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,760 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds also recently made changes to their positions in LHX. Brighton Jones LLC grew its holdings in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new position in L3Harris Technologies in the 2nd quarter worth $4,067,000. Independence Bank of Kentucky boosted 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 buying an additional 40 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of L3Harris Technologies by 25.2% during the second quarter. V Square Quantitative Management LLC now owns 1,117 shares of the company’s stock valued at $280,000 after acquiring an additional 225 shares in the last quarter. Finally, GC Wealth Management RIA LLC increased its position in shares of L3Harris Technologies by 58.0% during the second quarter. GC Wealth Management RIA LLC now owns 2,128 shares of the company’s stock worth $534,000 after acquiring an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.0%

NYSE LHX opened at $354.55 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $361.59. The company has a 50-day simple moving average of $302.39 and a 200-day simple moving average of $289.14. The firm has a market capitalization of $66.32 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is presently 51.56%.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the company’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 completion of the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on LHX shares. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Citigroup upped their target price on L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Vertical Research restated a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Finally, Wall Street Zen cut shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $315.73.

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.