M Holdings Securities Inc. Makes New $504,000 Investment in L3Harris Technologies Inc $LHX

M Holdings Securities Inc. purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) during the third quarter, according to its most recent filing with the SEC. The fund purchased 2,128 shares of the company’s stock, valued at approximately $504,000.

Other hedge funds have also bought and sold shares of the company. NBH Bank bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $26,000. Elevation Wealth Partners LLC increased its holdings in shares of L3Harris Technologies by 80.0% in the second quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock worth $29,000 after purchasing an additional 44 shares during the last quarter. John Boyer Inc. bought a new stake in shares of L3Harris Technologies in the third quarter worth about $31,000. Bell Investment Advisors Inc bought a new stake in shares of L3Harris Technologies in the second quarter worth about $33,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of L3Harris Technologies in the second quarter worth about $38,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $276.28 on Thursday. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23. The stock has a market capitalization of $51.44 billion, a P/E ratio of 25.77, a PEG ratio of 1.69 and a beta of 0.47. The firm has a fifty day simple moving average of $250.79 and a two-hundred day simple moving average of $302.01. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.33. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.70 EPS. On average, analysts expect that L3Harris Technologies Inc will post 12.10 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s payout ratio is presently 46.64%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research reports. Jefferies Financial Group lowered L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Wednesday, August 26th. BNP Paribas Exane reduced their price objective on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Melius Research downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Deutsche Bank reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $340.93.

L3Harris Technologies Company 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.