Charles Schwab Investment Management Inc. Purchases 19,267 Shares of L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in L3Harris Technologies Inc by 1.6% in the first quarter, bringing its total holdings to approximately $257.32 million.
• Insider transactions included CEO Christopher E. Kubasik selling 72,000 shares valued at over $19.5 million, reflecting a 33.09% decrease in his position.
• L3Harris announced a quarterly dividend of $1.20 per share, with a total annualized dividend yield of 1.8%.

Charles Schwab Investment Management Inc. grew its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,229,374 shares of the company's stock after acquiring an additional 19,267 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of L3Harris Technologies worth $257,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LHX. Clearstead Trust LLC bought a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Beacon Capital Management LLC grew its holdings in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in L3Harris Technologies by 336.4% during the fourth 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. Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth $37,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LHX shares. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Barclays lifted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Robert W. Baird raised their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Wall Street Zen lowered L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Stock Down 1.5%

Shares of LHX stock traded down $4.12 during trading hours on Friday, hitting $269.69. 1,639,160 shares of the company were exchanged, compared to its average volume of 1,441,700. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $50.46 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 1.97 and a beta of 0.77. The business's 50-day simple moving average is $258.25 and its two-hundred day simple moving average is $229.92.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $3.24 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.8%. L3Harris Technologies's payout ratio is 53.63%.

Insider Activity 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 transaction, the chief executive officer directly 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider directly owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,061 shares of company stock worth $28,227,077. 0.72% of the stock is currently owned by company 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.