Koss Olinger Consulting LLC Purchases New Stake in L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Koss Olinger Consulting LLC acquired 4,640 shares of L3Harris Technologies, valued at approximately $971,000, marking their first quarter investment in the company.
• L3Harris recently reported an Earnings Per Share (EPS) of $2.78 for the last quarter, beating analyst estimates, with revenue of $5.43 billion, reflecting a 2.4% increase year-over-year.
• The company declared a $1.20 quarterly dividend with a yield of 1.8%, set to be paid out to shareholders on September 22nd.

Koss Olinger Consulting LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,640 shares of the company's stock, valued at approximately $971,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the 1st quarter worth about $26,000. Beacon Capital Management LLC increased its stake in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of 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 last quarter. Park Square Financial Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $39,472,018.92. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 107,061 shares of company stock valued at $28,227,077. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 1.5%

NYSE:LHX traded down $4.12 during trading hours on Friday, reaching $269.69. 1,639,160 shares of the stock were exchanged, compared to its average volume of 1,441,700. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a 50 day moving average of $258.25 and a 200 day moving average of $229.92. The stock has a market cap of $50.46 billion, a PE ratio of 30.13, a PEG ratio of 1.97 and a beta of 0.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during 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 business's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.24 EPS. On average, equities analysts expect 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. Stockholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada upped their price target 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. Citigroup upped their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Robert W. Baird upped their price target on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wall Street Zen cut L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Susquehanna upped their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $279.47.

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.