Cooper Haims Advisors LLC bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,169 shares of the company's stock, valued at approximately $245,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC acquired a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Beacon Capital Management LLC raised its position in shares of 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 buying an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after buying an additional 111 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth about $37,000. Finally, Cornerstone Planning Group LLC raised its position in shares of L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after buying an additional 139 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
L3Harris Technologies Stock Performance
L3Harris Technologies stock opened at $278.19 on Monday. The firm's 50 day simple moving average is $255.07 and its 200-day simple moving average is $227.98. The company has a market cap of $52.05 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.03.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $3.24 earnings per share. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.
Analyst Upgrades and Downgrades
LHX has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Citigroup boosted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Susquehanna boosted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird boosted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $279.47.
Get Our Latest Stock Report on LHX
Insider Activity 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 transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 72,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was 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. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,061 shares of company stock worth $28,227,077. 0.72% of the stock is currently owned by insiders.
About L3Harris Technologies
(
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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