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

Calamos Wealth Management LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 3,524.8% during the third quarter, Holdings Channel.com reports. The firm owned 29,542 shares of the company’s stock after acquiring an additional 28,727 shares during the period. Calamos Wealth Management LLC’s holdings in L3Harris Technologies were worth $6,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. BlackRock Inc. acquired a new position in shares of L3Harris Technologies in the second quarter worth about $5,525,806,000. State Street Corp grew its position in shares of L3Harris Technologies by 2.9% during the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after acquiring an additional 252,662 shares during the period. Wellington Management Group LLP increased its stake in shares of L3Harris Technologies by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock valued at $1,367,832,000 after purchasing an additional 313,431 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $752,983,000. Finally, Bank of America Corp DE raised its holdings in L3Harris Technologies by 1.4% in the 2nd quarter. Bank of America Corp DE now owns 1,945,342 shares of the company’s stock worth $565,297,000 after purchasing an additional 27,610 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX traded up $2.13 during mid-day trading on Friday, hitting $260.24. The stock had a trading volume of 1,797,639 shares, compared to its average volume of 1,796,398. The firm’s 50 day moving average is $250.16 and its 200 day moving average is $303.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. The stock has a market capitalization of $48.46 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.68 and a beta of 0.47. L3Harris Technologies Inc has a twelve month low of $232.34 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.33. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 earnings per share. Equities research analysts forecast that L3Harris Technologies Inc will post 12.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors 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 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is currently 46.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LHX shares. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, October 30th. Melius Research cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. UBS Group increased their price objective on shares of L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, Argus downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $345.60.

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.