Castlekeep Investment Advisors LLC Invests $2.17 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Castlekeep Investment Advisors LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 10,304 shares of the company's stock, valued at approximately $2,167,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in L3Harris Technologies during the 4th quarter valued at about $398,507,000. Invesco Ltd. grew its holdings in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. Vanguard Group Inc. raised its position in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Deutsche Bank AG lifted its stake in L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after acquiring an additional 289,514 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in L3Harris Technologies during the 4th quarter worth $53,011,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Down 0.5%

L3Harris Technologies stock traded down $1.10 during trading on Thursday, hitting $243.27. The company had a trading volume of 913,538 shares, compared to its average volume of 1,086,881. The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.90 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 $265.74. The company's 50 day simple moving average is $218.97 and its 200-day simple moving average is $218.78.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the business earned $3.06 EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.97%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Activity

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LHX shares. Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Truist Financial cut their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and upped their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $256.56.

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.