Fiduciary Family Office LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,101 shares of the company's stock, valued at approximately $858,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Beacon Capital Management LLC grew its position 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 purchasing an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $37,000. Finally, Cornerstone Planning Group LLC grew its position in shares of L3Harris Technologies by 323.3% in the first 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 last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
Insider Transactions at L3Harris Technologies
In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,472,018.92. This represents a 33.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,061 shares of company stock valued at $28,227,077. Insiders own 0.72% of the company's stock.
L3Harris Technologies Price Performance
Shares of LHX stock traded down $4.12 during trading hours on Friday, reaching $269.69. The company's stock had a trading volume of 1,639,160 shares, compared to its average volume of 1,441,700. The firm's 50 day simple moving average is $258.25 and its 200-day simple moving average is $229.92. The company has a market capitalization of $50.46 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.97 and a beta of 0.77. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.52. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The company's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.24 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.
L3Harris Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is presently 53.63%.
Wall Street Analysts Forecast Growth
LHX has been the topic of several research reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Robert W. Baird increased their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Citigroup increased their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Truist Financial increased their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $279.47.
View Our Latest Analysis on LHX
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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