L3Harris Technologies Inc $LHX Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc increased its stake in L3Harris Technologies by 43.6%, acquiring an additional 268,396 shares, bringing their total ownership to 883,782 shares valued at approximately $184.98 million.
• Insider CEO Christopher E. Kubasik sold 72,000 shares of L3Harris stock, representing a 33.09% decrease in his position, while insiders collectively sold 147,199 shares last quarter.
• Analysts have set a consensus rating of "Moderate Buy" for L3Harris Technologies with an average price target of $279.47 following recent adjustments by multiple firms.

American Century Companies Inc. boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 43.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 883,782 shares of the company's stock after buying an additional 268,396 shares during the quarter. American Century Companies Inc. owned 0.47% of L3Harris Technologies worth $184,984,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of L3Harris Technologies by 4.9% in the 4th quarter. CreativeOne Wealth LLC now owns 3,697 shares of the company's stock valued at $777,000 after purchasing an additional 174 shares in the last quarter. XTX Topco Ltd acquired a new stake in L3Harris Technologies during the 4th quarter worth $381,000. Jump Financial LLC raised its stake in L3Harris Technologies by 564.2% during the 4th quarter. Jump Financial LLC now owns 10,827 shares of the company's stock worth $2,277,000 after acquiring an additional 9,197 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in L3Harris Technologies by 0.8% during the 4th quarter. NewEdge Advisors LLC now owns 15,265 shares of the company's stock worth $3,210,000 after acquiring an additional 125 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $1.52 during midday trading on Monday, hitting $272.07. The stock had a trading volume of 1,118,189 shares, compared to its average volume of 1,426,053. The company has a market capitalization of $50.90 billion, a PE ratio of 30.40, a P/E/G ratio of 1.98 and a beta of 0.77. The stock has a 50 day moving average price of $261.52 and a two-hundred day moving average price of $232.26. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.24 earnings per share. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $39,236,182.56. This trade represents a 21.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction dated 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 sale, the insider owned 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. Insiders sold 147,199 shares of company stock valued at $39,045,071 in the last quarter. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

LHX has been the topic of several research analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Barclays lifted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Six research 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

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.