Columbus Macro LLC Has $4.88 Million Position in L3Harris Technologies Inc (NYSE:LHX)

Columbus Macro LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 32.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,298 shares of the company's stock after acquiring an additional 5,689 shares during the quarter. Columbus Macro LLC's holdings in L3Harris Technologies were worth $4,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after acquiring an additional 401,168 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after purchasing an additional 53,787 shares in the last quarter. FMR LLC boosted its holdings in L3Harris Technologies by 11.5% during the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock worth $475,653,000 after purchasing an additional 233,968 shares during the last quarter. Invesco Ltd. grew its position in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in L3Harris Technologies in the 4th quarter valued at $398,507,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the business'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 transaction, the chief executive officer now owns 145,572 shares of the company's stock, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the firm'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 transaction of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% 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 Price Performance

Shares of NYSE:LHX traded down $2.08 during trading on Thursday, reaching $248.78. 1,279,977 shares of the company traded hands, compared to its average volume of 1,134,255. The firm has a market capitalization of $46.51 billion, a PE ratio of 29.51, a PEG ratio of 2.00 and a beta of 0.74. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company's 50 day moving average is $230.29 and its two-hundred day moving average is $218.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is presently 56.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LHX. 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. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Wells Fargo & Company dropped their price objective on 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 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 note on Monday, March 31st. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.75.

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.