MGO One Seven LLC Buys 7,356 Shares of L3Harris Technologies Inc $LHX

MGO One Seven LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 75.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,136 shares of the company’s stock after acquiring an additional 7,356 shares during the period. MGO One Seven LLC’s holdings in L3Harris Technologies were worth $5,233,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LHX. Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. Geneos Wealth Management Inc. increased its position in shares of L3Harris Technologies by 62.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,106 shares of the company’s stock valued at $232,000 after buying an additional 427 shares in the last quarter. Modern Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at $204,000. Harbor Investment Advisory LLC raised its stake in L3Harris Technologies by 52.3% during the 2nd quarter. Harbor Investment Advisory LLC now owns 454 shares of the company’s stock worth $114,000 after buying an additional 156 shares during the period. Finally, Douglas Lane & Associates LLC bought a new position in L3Harris Technologies during the second quarter worth about $236,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE LHX opened at $340.55 on Tuesday. The firm’s 50 day moving average is $291.33 and its 200-day moving average is $282.66. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $63.70 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $341.82.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on LHX. BNP Paribas upgraded L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Finally, Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.29.

L3Harris Technologies Company Profile

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.