Blair William & Co. IL Sells 7,851 Shares of L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Blair William & Co. IL has reduced its holdings in L3Harris Technologies by 25.5%, selling 7,851 shares and now owning 22,902 shares valued at approximately $4.8 million.
• CEO Christopher E. Kubasik sold 72,000 shares of L3Harris stock for over $19.5 million, reducing his ownership by 33.09%.
• L3Harris Technologies is set to pay a quarterly dividend of $1.20 per share on September 22, with a projected annualized dividend yield of 1.7%.

Blair William & Co. IL decreased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,902 shares of the company's stock after selling 7,851 shares during the quarter. Blair William & Co. IL's holdings in L3Harris Technologies were worth $4,794,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LHX. Oppenheimer Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after purchasing an additional 216 shares in the last quarter. BankPlus Wealth Management LLC lifted its stake in L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after acquiring an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after acquiring an additional 1,236 shares during the last quarter. Brighton Jones LLC grew its stake in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Finally, Capital Analysts LLC raised its holdings in shares of L3Harris Technologies by 4.2% in the fourth quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock valued at $9,360,000 after purchasing an additional 1,808 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 72,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $39,472,018.92. The trade was a 33.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,061 shares of company stock worth $28,227,077 in the last three months. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $277.57 on Thursday. The firm has a market capitalization of $51.93 billion, a PE ratio of 31.01, a P/E/G ratio of 2.03 and a beta of 0.77. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $257.14 and a two-hundred day moving average price of $229.08. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm earned $3.24 EPS. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is 53.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LHX shares. Wall Street Zen lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Finally, UBS Group upped their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

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.

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