44 Wealth Management LLC Raises Holdings in L3Harris Technologies Inc (NYSE:LHX)

44 Wealth Management LLC boosted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,581 shares of the company's stock after purchasing an additional 1,722 shares during the period. 44 Wealth Management LLC's holdings in L3Harris Technologies were worth $2,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 1.8% during 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after buying an additional 53,787 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after buying an additional 311,886 shares in the last quarter. FMR LLC lifted its position in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after buying an additional 233,968 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after buying an additional 522,861 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Citigroup lifted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Jefferies Financial Group decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.75.

L3Harris Technologies Trading Up 1.3%

Shares of NYSE LHX traded up $3.21 during trading hours on Friday, hitting $256.77. 575,399 shares of the company traded hands, compared to its average volume of 1,151,636. The stock has a market capitalization of $48.00 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The company's 50 day moving average price is $238.25 and its 200 day moving average price is $220.21. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

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.