Calamos Wealth Management LLC Acquires 28,727 Shares of L3Harris Technologies Inc $LHX

Calamos Wealth Management LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 3,524.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,542 shares of the company’s stock after purchasing an additional 28,727 shares during the quarter. Calamos Wealth Management LLC’s holdings in L3Harris Technologies were worth $6,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Miller Global Investments LLC raised its stake in L3Harris Technologies by 34.0% in the second quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock valued at $40,000 after purchasing an additional 35 shares in the last quarter. AlTi Global Inc. increased its position in shares of L3Harris Technologies by 4.3% in the first quarter. AlTi Global Inc. now owns 923 shares of the company’s stock valued at $319,000 after acquiring an additional 38 shares during the period. Twin Lakes Capital Management LLC raised its position in L3Harris Technologies by 0.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock valued at $4,125,000 after purchasing an additional 38 shares during the last quarter. Center for Financial Planning Inc. boosted its holdings in L3Harris Technologies by 18.8% in the third quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock valued at $58,000 after acquiring an additional 39 shares in the last quarter. Finally, Signature Equity Partners LLC increased its position in shares of L3Harris Technologies by 2.3% during the first quarter. Signature Equity Partners LLC now owns 1,863 shares of the company’s stock valued at $643,000 after buying an additional 41 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LHX shares. TD Cowen cut their target price on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Melius Research cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Argus cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. UBS Group increased their target price on shares of L3Harris Technologies from $264.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Finally, BNP Paribas Exane cut their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $345.60.

L3Harris Technologies Stock Up 0.8%

LHX stock traded up $2.13 during trading on Friday, reaching $260.24. 1,797,639 shares of the company traded hands, compared to its average volume of 1,796,398. The business has a 50 day simple moving average of $250.16 and a 200 day simple moving average of $303.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. L3Harris Technologies Inc has a 12 month low of $232.34 and a 12 month high of $379.23. The company has a market capitalization of $48.46 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.33. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $2.70 earnings per share. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 12.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.64%.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies.

The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.

L3Harris was formed in 2019 through the merger of L3 Technologies and Harris Corporation.