L3Harris Technologies Inc (NYSE:LHX) Shares Bought by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. boosted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 18,442 shares of the company's stock after acquiring an additional 1,082 shares during the period. L3Harris Technologies comprises about 0.9% of Cutter & CO Brokerage Inc.'s holdings, making the stock its 28th biggest holding. Cutter & CO Brokerage Inc.'s holdings in L3Harris Technologies were worth $3,860,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Whitener Capital Management Inc. boosted its stake in L3Harris Technologies by 9.5% during the first quarter. Whitener Capital Management Inc. now owns 2,325 shares of the company's stock worth $487,000 after buying an additional 202 shares during the period. Prudent Man Advisors LLC boosted its stake in L3Harris Technologies by 3.4% during the first quarter. Prudent Man Advisors LLC now owns 4,797 shares of the company's stock worth $1,004,000 after buying an additional 157 shares during the period. Schear Investment Advisers LLC purchased a new position in L3Harris Technologies during the first quarter worth about $206,000. Stephens Investment Management Group LLC boosted its stake in L3Harris Technologies by 6.5% during the first quarter. Stephens Investment Management Group LLC now owns 76,145 shares of the company's stock worth $15,938,000 after buying an additional 4,648 shares during the period. Finally, Stephens Inc. AR boosted its stake in L3Harris Technologies by 13.1% during the first quarter. Stephens Inc. AR now owns 6,340 shares of the company's stock worth $1,327,000 after buying an additional 734 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LHX. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report 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 report on Monday. Truist Financial increased their price target on shares of L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target 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. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.81.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction on 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 transaction, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Down 0.7%

LHX stock traded down $1.82 during midday trading on Tuesday, reaching $260.49. 266,330 shares of the company were exchanged, compared to its average volume of 1,441,845. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The stock's 50-day simple moving average is $242.98 and its 200 day simple moving average is $222.20. The company has a market cap of $48.70 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 2.03 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter last year, the company earned $3.06 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts forecast 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 was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.84%. L3Harris Technologies's payout ratio is currently 56.94%.

L3Harris Technologies 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.