Griffin Asset Management Inc. Boosts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Griffin Asset Management Inc. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 70.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,874 shares of the company's stock after purchasing an additional 4,071 shares during the period. Griffin Asset Management Inc.'s holdings in L3Harris Technologies were worth $2,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares during the period. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

LHX has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on shares of 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 price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock 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 assigned a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Stock Up 2.7%

NYSE LHX traded up $6.67 on Friday, hitting $257.06. 3,049,243 shares of the company were exchanged, compared to its average volume of 1,122,630. The company has a market cap of $48.06 billion, a PE ratio of 32.66, a PEG ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a fifty day moving average of $227.95 and a 200-day moving average of $218.45. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the firm earned $3.06 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is 56.94%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider now owns 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

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.