Duncker Streett & Co. Inc. Trims Stake in L3Harris Technologies Inc (NYSE:LHX)

Duncker Streett & Co. Inc. lowered its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,343 shares of the company's stock after selling 1,665 shares during the period. Duncker Streett & Co. Inc.'s holdings in L3Harris Technologies were worth $2,165,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Avantra Family Wealth Inc. raised its position in shares of L3Harris Technologies by 4.1% in the 1st quarter. Avantra Family Wealth Inc. now owns 4,619 shares of the company's stock valued at $967,000 after purchasing an additional 181 shares during the last quarter. Atticus Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 26.6% during the first quarter. Atticus Wealth Management LLC now owns 595 shares of the company's stock worth $125,000 after buying an additional 125 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of L3Harris Technologies during the first quarter valued at $1,153,000. Center for Financial Planning Inc. grew its holdings in shares of L3Harris Technologies by 9.9% during the first quarter. Center for Financial Planning Inc. now owns 1,723 shares of the company's stock valued at $361,000 after buying an additional 155 shares during the last quarter. Finally, Childress Capital Advisors LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $256,000. Institutional investors own 84.76% of the company's stock.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer now owns 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider now directly owns 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. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX traded down $4.29 during mid-day trading on Tuesday, hitting $246.82. 1,188,028 shares of the company were exchanged, compared to its average volume of 1,142,638. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a market cap of $46.14 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. The company has a 50 day moving average of $232.64 and a 200-day moving average of $218.66.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.06 earnings per share. Analysts expect 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 issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial cut their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Citigroup lifted their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Jefferies Financial Group cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.