Capital Investment Counsel Inc bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,355 shares of the company's stock, valued at approximately $284,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position 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 during the period. BankPlus Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 6.0% in the first quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after purchasing an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. grew 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 in the last quarter. LaFleur & Godfrey LLC grew its position in shares of L3Harris Technologies by 58.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock valued at $5,635,000 after buying an additional 9,873 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $25,071,000. Hedge funds and other institutional investors own 84.76% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup upped their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Truist Financial decreased their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.
Check Out Our Latest Analysis on LHX
Insider Buying and Selling
In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction 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 transaction, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.72% of the company's stock.
L3Harris Technologies Trading Up 1.3%
Shares of LHX stock traded up $3.21 during trading hours on Thursday, hitting $256.77. 575,399 shares of the company's stock traded hands, compared to its average volume of 1,148,962. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74. The stock's 50 day simple moving average is $236.64 and its 200 day simple moving average is $219.66. The stock has a market cap of $48.00 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.02 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 EPS. On average, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current 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 paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.
L3Harris Technologies Profile
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Free Report)
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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