Brookstone Capital Management Grows Stock Holdings in L3Harris Technologies Inc (NYSE:LHX)

Brookstone Capital Management increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 236.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,183 shares of the company's stock after purchasing an additional 8,563 shares during the period. Brookstone Capital Management's holdings in L3Harris Technologies were worth $2,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LHX. Meeder Asset Management Inc. boosted its position in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $26,000. Beacon Capital Management LLC boosted its position in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after buying an additional 111 shares during the period. Finally, Park Square Financial Group LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insiders Place Their Bets

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

L3Harris Technologies Stock Up 0.4%

NYSE:LHX traded up $0.91 during midday trading on Monday, hitting $256.64. 1,263,187 shares of the company were exchanged, compared to its average volume of 1,152,082. The company has a fifty day simple moving average of $238.25 and a 200 day simple moving average of $220.27. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 has a market capitalization of $47.98 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75.

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

L3Harris Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, UBS Group raised their price target 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. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $258.75.

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.