Concurrent Investment Advisors LLC Boosts Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Concurrent Investment Advisors LLC lifted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 37.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,606 shares of the company's stock after buying an additional 7,213 shares during the quarter. Concurrent Investment Advisors LLC's holdings in L3Harris Technologies were worth $5,569,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LHX. HM Payson & Co. lifted its stake in shares of L3Harris Technologies by 7.5% in the 1st quarter. HM Payson & Co. now owns 503,112 shares of the company's stock worth $105,306,000 after purchasing an additional 35,266 shares during the period. Wayfinding Financial LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth approximately $75,000. Strategic Blueprint LLC lifted its stake in shares of L3Harris Technologies by 6.4% in the 1st quarter. Strategic Blueprint LLC now owns 1,018 shares of the company's stock worth $213,000 after purchasing an additional 61 shares during the period. Brookstone Capital Management lifted its stake in shares of L3Harris Technologies by 236.5% in the 1st quarter. Brookstone Capital Management now owns 12,183 shares of the company's stock worth $2,550,000 after purchasing an additional 8,563 shares during the period. Finally, Catalyst Capital Advisors LLC increased its holdings in L3Harris Technologies by 45.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 527 shares of the company's stock worth $110,000 after acquiring an additional 164 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $2.01 on Wednesday, reaching $259.10. The company's stock had a trading volume of 749,653 shares, compared to its average volume of 1,153,532. The stock's fifty day simple moving average is $239.72 and its 200-day simple moving average is $220.83. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $48.44 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.05 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share 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 firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the firm posted $3.06 earnings per share. L3Harris Technologies's revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.85%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several analyst reports. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial reduced their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Citigroup increased their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $258.75.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.