Caliber Wealth Management LLC KS Purchases New Holdings in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Caliber Wealth Management LLC KS invested approximately $1.71 million in L3Harris Technologies, acquiring 8,153 shares, indicating increasing institutional interest in the company.
• L3Harris Technologies reported earnings per share of $2.78 for the last quarter, surpassing analysts' estimates, alongside a revenue increase of 2.4% year-over-year.
• The company will pay a quarterly dividend of $1.20 on September 22nd, reflecting a dividend yield of 1.76% and a payout ratio of 56.94%.

Caliber Wealth Management LLC KS bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,153 shares of the company's stock, valued at approximately $1,706,000.

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

L3Harris Technologies Price Performance

NYSE:LHX traded up $1.89 during trading hours on Tuesday, reaching $271.36. 306,961 shares of the company's stock were exchanged, compared to its average volume of 1,455,812. The company has a market capitalization of $50.73 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $280.03. 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 business's 50-day simple moving average is $251.91 and its two-hundred day simple moving average is $226.31.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $3.24 earnings per share. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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. This represents a $4.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's payout ratio is 53.63%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial upped their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday. Jefferies Financial Group decreased their target price 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. Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Friday. Wells Fargo & Company decreased their target price 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. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction that occurred on 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 owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This trade 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 corporate insiders.

L3Harris Technologies 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.