Calamos Advisors LLC Increases Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Calamos Advisors LLC raised its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 123,751 shares of the company's stock after purchasing an additional 4,243 shares during the period. Calamos Advisors LLC owned approximately 0.07% of L3Harris Technologies worth $25,902,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Leeward Investments LLC MA lifted its holdings in shares of L3Harris Technologies by 7.0% during the first quarter. Leeward Investments LLC MA now owns 35,312 shares of the company's stock valued at $7,391,000 after purchasing an additional 2,303 shares in the last quarter. Goelzer Investment Management Inc. purchased a new position in L3Harris Technologies in the 1st quarter worth about $210,000. D.A. Davidson & CO. lifted its stake in L3Harris Technologies by 6.0% during the 1st quarter. D.A. Davidson & CO. now owns 7,719 shares of the company's stock valued at $1,616,000 after acquiring an additional 436 shares during the period. Capital Investment Counsel Inc bought a new position in L3Harris Technologies during the 1st quarter valued at about $284,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of L3Harris Technologies by 226.5% during the 1st quarter. Teacher Retirement System of Texas now owns 36,530 shares of the company's stock valued at $7,646,000 after acquiring an additional 25,340 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. Citigroup increased their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $256.77 on Friday. The stock has a market cap of $48.00 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.02 and a beta of 0.75. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The firm has a fifty day moving average price of $237.44 and a 200-day moving average price of $219.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $3.06 EPS. L3Harris Technologies's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.20 dividend. The ex-dividend date 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%.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider owned 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $8,214,997.28. Following the transaction, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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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