Maryland State Retirement & Pension System Has $2.28 Million Stake in L3Harris Technologies Inc $LHX

Maryland State Retirement & Pension System increased its position in L3Harris Technologies Inc (NYSE:LHX) by 2.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,077 shares of the company’s stock after purchasing an additional 224 shares during the period. Maryland State Retirement & Pension System’s holdings in L3Harris Technologies were worth $2,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky boosted its stake 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 buying an additional 40 shares during the period. DB Fitzpatrick & Co Inc boosted its stake in shares of L3Harris Technologies by 1.0% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after buying an additional 42 shares during the period. Norway Savings Bank boosted its stake in shares of L3Harris Technologies by 3.0% during the 2nd quarter. Norway Savings Bank now owns 1,490 shares of the company’s stock valued at $374,000 after buying an additional 44 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of L3Harris Technologies by 3.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,253 shares of the company’s stock valued at $314,000 after buying an additional 45 shares during the period. Finally, BankPlus Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 2.2% during the 2nd quarter. BankPlus Wealth Management LLC now owns 2,106 shares of the company’s stock valued at $528,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LHX. Truist Financial lifted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Citigroup lifted their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.19.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 1.9%

LHX stock opened at $292.45 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a fifty day simple moving average of $281.74 and a 200 day simple moving average of $252.65. The firm has a market cap of $54.72 billion, a PE ratio of 32.68, a PEG ratio of 2.18 and a beta of 0.76.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

L3Harris Technologies Company 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.