Commonwealth Equity Services LLC Purchases 1,414 Shares of L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Commonwealth Equity Services LLC increased its shareholding in L3Harris Technologies by 1.6%, acquiring an additional 1,414 shares during the first quarter, bringing its total holdings to 88,080 shares valued at approximately $18.44 million.
• Insider Edward J. Zoiss sold 2,000 shares of L3Harris stock for $490,000, while CEO Christopher E. Kubasik sold 72,000 shares for over $19.5 million, indicating significant insider trading activity.
• L3Harris Technologies is set to pay a quarterly dividend of $1.20 per share on September 22nd, representing an annual yield of 1.8% with a dividend payout ratio of 53.63%.

Commonwealth Equity Services LLC boosted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 88,080 shares of the company's stock after purchasing an additional 1,414 shares during the period. Commonwealth Equity Services LLC's holdings in L3Harris Technologies were worth $18,436,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC grew its holdings in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies in the fourth quarter worth $37,000. Cornerstone Planning Group LLC grew its stake in 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 purchasing an additional 139 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in shares of L3Harris Technologies during the 1st quarter valued at $42,000. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies 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 sale, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold 107,061 shares of company stock valued at $28,227,077 in the last three months. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 1.1%

Shares of NYSE LHX opened at $273.90 on Friday. 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 company has a market cap of $51.25 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.02 and a beta of 0.77. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.52. The business has a 50-day simple moving average of $257.75 and a two-hundred day simple moving average of $229.46.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price objective 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, July 25th. Wall Street Zen downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

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.

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