Goelzer Investment Management Inc. Buys Shares of 1,001 L3Harris Technologies Inc (NYSE:LHX)

Goelzer Investment Management Inc. bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,001 shares of the company's stock, valued at approximately $210,000.

A number of other large investors also recently modified their holdings of LHX. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC raised its stake 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after acquiring an additional 111 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $37,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup raised 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. Jefferies Financial Group dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. UBS Group upped their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Truist Financial dropped their price objective 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Stock Up 1.3%

Shares of NYSE:LHX traded up $3.21 during mid-day trading on Friday, hitting $256.77. 575,399 shares of the company traded hands, compared to its average volume of 1,151,636. The stock has a market cap of $48.00 billion, a P/E ratio of 30.46, a P/E/G 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. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a 50-day moving average price of $238.25 and a two-hundred day moving average price of $220.21.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for 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%. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 earnings per share. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given 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 1.87%. L3Harris Technologies's payout ratio is 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction 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 owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents 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 owned by insiders.

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.