Columbus Macro LLC Has $6.33 Million Stake in L3Harris Technologies Inc $LHX

Columbus Macro LLC raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 8.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,250 shares of the company’s stock after buying an additional 1,952 shares during the period. Columbus Macro LLC’s holdings in L3Harris Technologies were worth $6,334,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Gold Investment Management Ltd. increased its holdings in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after acquiring an additional 904 shares in the last quarter. BankPlus Trust Department increased its holdings in shares of L3Harris Technologies by 6.9% in the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after acquiring an additional 379 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of L3Harris Technologies by 20.6% in the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after acquiring an additional 33,019 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after acquiring an additional 216 shares in the last quarter. Finally, Dean Capital Management increased its holdings in shares of L3Harris Technologies by 11.5% in the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after acquiring an additional 986 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 195,138 shares of company stock worth $53,571,774 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $306.83 on Thursday. The stock has a 50 day moving average price of $280.99 and a 200 day moving average price of $251.50. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $306.83. 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 stock has a market capitalization of $57.41 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the firm posted $3.24 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is 53.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LHX. UBS Group increased their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $279.47.

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.