L3Harris Technologies Inc (NYSE:LHX) Position Increased by Norris Perne & French LLP MI

Norris Perne & French LLP MI boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,477 shares of the company's stock after purchasing an additional 1,755 shares during the period. L3Harris Technologies accounts for approximately 1.5% of Norris Perne & French LLP MI's portfolio, making the stock its 26th biggest position. Norris Perne & French LLP MI owned about 0.05% of L3Harris Technologies worth $20,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LHX. ORG Wealth Partners LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $42,000. Envestnet Portfolio Solutions Inc. raised its position in L3Harris Technologies by 28.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 48,202 shares of the company's stock valued at $10,089,000 after acquiring an additional 10,815 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in L3Harris Technologies in the first quarter valued at approximately $524,000. Beacon Capital Management LLC grew its position in 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 acquiring an additional 58 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in L3Harris Technologies by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 30,068 shares of the company's stock worth $6,293,000 after acquiring an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $248.78 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $265.74. The company has a fifty day moving average price of $230.29 and a 200 day moving average price of $218.52. The stock has a market cap of $46.51 billion, a P/E ratio of 29.51, a PEG ratio of 2.00 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating 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 business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is presently 56.94%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LHX. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. UBS Group upped their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Truist Financial reduced their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $258.75.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the sale, the chief executive officer now directly owns 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.

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