Core Alternative Capital Cuts Stake in L3Harris Technologies Inc (NYSE:LHX)

Core Alternative Capital lessened its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,297 shares of the company's stock after selling 1,264 shares during the quarter. Core Alternative Capital's holdings in L3Harris Technologies were worth $3,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LHX. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of L3Harris Technologies by 158.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,715 shares of the company's stock worth $781,000 after buying an additional 2,280 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $132,000. Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 132.4% in the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company's stock worth $58,992,000 after purchasing an additional 159,806 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of L3Harris Technologies by 5.2% in the 4th quarter. Assetmark Inc. now owns 18,572 shares of the company's stock worth $3,905,000 after purchasing an additional 916 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX traded up $0.61 during trading hours on Tuesday, reaching $257.04. 402,298 shares of the company's stock traded hands, compared to its average volume of 1,149,170. The stock has a market cap of $48.05 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75. 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 firm's 50 day simple moving average is $239.00 and its 200-day simple moving average is $220.58. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74.

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

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies's dividend payout ratio (DPR) is currently 56.94%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the business'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 transaction, the insider directly owned 25,325 shares in the company, 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. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Truist Financial decreased their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and an average target price 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.