Childress Capital Advisors LLC Makes New Investment in L3Harris Technologies Inc (NYSE:LHX)

Childress Capital Advisors LLC acquired a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,223 shares of the company's stock, valued at approximately $256,000.

Several other hedge funds have also recently bought and sold shares of the company. Aspire Private Capital LLC increased its stake in shares of L3Harris Technologies by 299.0% in the first quarter. Aspire Private Capital LLC now owns 4,808 shares of the company's stock valued at $1,006,000 after purchasing an additional 3,603 shares during the period. Stonegate Investment Group LLC grew its holdings in L3Harris Technologies by 12.5% in the 1st quarter. Stonegate Investment Group LLC now owns 3,753 shares of the company's stock worth $786,000 after buying an additional 416 shares in the last quarter. Advisor Resource Council acquired a new stake in L3Harris Technologies in the 1st quarter valued at approximately $266,000. Segment Wealth Management LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $268,000. Finally, Brady Family Wealth LLC boosted its position in L3Harris Technologies by 10.0% during the 1st quarter. Brady Family Wealth LLC now owns 3,598 shares of the company's stock worth $753,000 after acquiring an additional 328 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the company'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 transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business'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 transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Down 0.3%

Shares of L3Harris Technologies stock traded down $0.78 on Thursday, reaching $247.09. 1,956,621 shares of the company were exchanged, compared to its average volume of 1,149,493. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market capitalization of $46.19 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. 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 stock has a fifty day moving average price of $233.80 and a 200-day moving average price of $218.98.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.94%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LHX shares. Citigroup raised 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 lowered their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group reduced 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 note on Monday, March 31st. UBS Group raised their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus 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.