Amalgamated Bank Reduces Stock Holdings in L3Harris Technologies Inc $LHX

Amalgamated Bank lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,438 shares of the company’s stock after selling 622 shares during the quarter. Amalgamated Bank’s holdings in L3Harris Technologies were worth $9,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gold Investment Management Ltd. grew its holdings in L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after purchasing an additional 904 shares during the period. BankPlus Trust Department grew its holdings in L3Harris Technologies by 6.9% in the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after purchasing an additional 379 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of L3Harris Technologies by 20.6% in the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after buying an additional 33,019 shares in the last quarter. US Bancorp DE lifted its stake in shares of L3Harris Technologies by 1.6% in the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after buying an additional 5,526 shares in the last quarter. Finally, Dean Capital Management lifted its stake in shares of L3Harris Technologies by 11.5% in the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after buying an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.9%

Shares of LHX stock opened at $295.20 on Friday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The stock has a market cap of $55.23 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.09 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $286.64 and a two-hundred day simple moving average of $260.86.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company earned $3.34 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is 53.63%.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. UBS Group upped their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Susquehanna upped their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $287.63.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the 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 completion of the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

About L3Harris Technologies

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.