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

Pilgrim Partners Asia Pte Ltd acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,760 shares of the company’s stock, valued at approximately $538,000.

A number of other institutional investors also recently added to or reduced their stakes in LHX. Kiker Wealth Management LLC raised its stake in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies in the second quarter worth approximately $32,000. Independence Bank of Kentucky increased its position in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at $34,000. Finally, Salomon & Ludwin LLC bought a new stake in L3Harris Technologies in the third quarter worth about $34,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent research reports. UBS Group lifted their price objective on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, January 12th. Finally, Citigroup lifted their target price on L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.73.

L3Harris Technologies Trading Down 0.0%

NYSE:LHX opened at $354.55 on Tuesday. The stock’s 50-day moving average is $302.39 and its two-hundred day moving average is $289.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market cap 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 Inc has a fifty-two week low of $193.09 and a fifty-two week high of $361.59.

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

L3Harris Technologies Increases Dividend

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

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by insiders.

About L3Harris Technologies

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.