Integrated Investment Consultants LLC Takes Position in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Integrated Investment Consultants LLC has acquired a new position in L3Harris Technologies, buying 1,950 shares valued at approximately $408,000.
• L3Harris Technologies recently reported $2.78 earnings per share, beating analyst estimates, and its revenue increased by 2.4% compared to the same quarter last year.
• The company announced a quarterly dividend of $1.20 per share, translating to an annualized dividend yield of 1.78% and a payout ratio of 53.63%.

Integrated Investment Consultants LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,950 shares of the company's stock, valued at approximately $408,000.

Several other institutional investors have also added to or reduced their stakes in LHX. Brighton Jones LLC grew its holdings in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in L3Harris Technologies by 44.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,621 shares of the company's stock valued at $341,000 after buying an additional 498 shares in the last quarter. Korea Investment CORP grew its holdings in L3Harris Technologies by 15.7% during the 4th quarter. Korea Investment CORP now owns 122,015 shares of the company's stock valued at $25,657,000 after buying an additional 16,580 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in L3Harris Technologies by 11.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 309,651 shares of the company's stock valued at $64,949,000 after buying an additional 30,812 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in L3Harris Technologies by 29.2% during the 4th quarter. UniSuper Management Pty Ltd now owns 15,907 shares of the company's stock valued at $3,345,000 after buying an additional 3,597 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other 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 value of $490,000.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction on Tuesday, July 29th. The shares were 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 in the company, valued at $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,061 shares of company stock worth $28,227,077 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group reaffirmed a "neutral" rating and issued a $280.00 price objective (up from $262.00) on shares of L3Harris Technologies in a research note on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday. Citigroup raised their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada raised their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Barclays raised their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Trading Up 0.9%

LHX traded up $2.34 during trading on Wednesday, hitting $274.65. 329,484 shares of the stock were exchanged, compared to its average volume of 1,452,405. The firm has a 50 day simple moving average of $252.73 and a 200 day simple moving average of $226.63. The firm has a market cap of $51.39 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 2.10 and a beta of 0.75. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The company 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%. L3Harris Technologies's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $3.24 EPS. As a group, equities analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.75%. L3Harris Technologies's payout ratio is currently 53.63%.

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.