Kingsman Wealth Management Inc. Invests $211,000 in L3Harris Technologies Inc (NYSE:LHX)

Kingsman Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,009 shares of the company's stock, valued at approximately $211,000.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth $26,000. Beacon Capital Management LLC raised its holdings 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 worth $27,000 after buying an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 worth $30,000 after buying an additional 111 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth $37,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on LHX. Wall Street Zen downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Sunday. Jefferies Financial Group lowered 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. Susquehanna set a $300.00 price target on shares of L3Harris Technologies and gave the stock a "positive" rating in a research note on Monday, July 14th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup restated a "buy" rating and issued a $300.00 price target (up previously from $280.00) on shares of L3Harris Technologies in a report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $263.81.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $1.43 during trading hours on Tuesday, reaching $264.52. 1,599,714 shares of the company were exchanged, compared to its average volume of 1,167,592. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $267.57. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.06 and a beta of 0.75. The stock has a 50-day moving average of $246.64 and a 200 day moving average of $223.73. 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 (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.06 earnings per share. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid 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 1.81%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm'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 transaction, the insider owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm'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 transaction, the chief executive officer owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Corporate 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.