CWA Asset Management Group LLC Purchases New Stake in L3Harris Technologies Inc (NYSE:LHX)

CWA Asset Management Group LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,137 shares of the company's stock, valued at approximately $238,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. CENTRAL TRUST Co lifted its stake in L3Harris Technologies by 12.9% in the first quarter. CENTRAL TRUST Co now owns 5,897 shares of the company's stock valued at $1,234,000 after buying an additional 674 shares during the period. Vista Investment Partners LLC acquired a new position in L3Harris Technologies in the first quarter valued at about $516,000. Community Trust & Investment Co. lifted its stake in L3Harris Technologies by 0.9% in the first quarter. Community Trust & Investment Co. now owns 65,246 shares of the company's stock valued at $13,657,000 after buying an additional 558 shares during the period. Sagespring Wealth Partners LLC lifted its stake in L3Harris Technologies by 3.7% in the first quarter. Sagespring Wealth Partners LLC now owns 6,371 shares of the company's stock valued at $1,334,000 after buying an additional 230 shares during the period. Finally, Sowell Financial Services LLC acquired a new position in L3Harris Technologies in the first quarter valued at about $216,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

LHX has been the topic of several analyst reports. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup increased their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. UBS Group raised 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 target on 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, Truist Financial dropped their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Trading Up 0.3%

NYSE LHX opened at $249.56 on Friday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74. 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 50 day moving average of $231.54 and a 200-day moving average of $218.48. The company has a market cap of $46.66 billion, a PE ratio of 29.60, a PEG ratio of 1.99 and a beta of 0.74.

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, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same period last year, the business earned $3.06 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.92%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

About L3Harris Technologies

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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