L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Elk River Wealth Management LLC

Elk River Wealth Management LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 600.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,123 shares of the company's stock after acquiring an additional 26,682 shares during the period. L3Harris Technologies makes up 1.2% of Elk River Wealth Management LLC's investment portfolio, making the stock its 26th largest position. Elk River Wealth Management LLC's holdings in L3Harris Technologies were worth $6,514,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Geode Capital Management LLC raised its position in shares of L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after buying an additional 53,787 shares during the period. FMR LLC raised its position in shares of L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company's stock worth $475,653,000 after buying an additional 233,968 shares during the period. Invesco Ltd. boosted its holdings in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after acquiring an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $398,507,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 0.9%

Shares of NYSE LHX opened at $244.31 on Friday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a market cap of $45.67 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The stock's 50 day simple moving average is $223.54 and its 200 day simple moving average is $218.32.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.06 earnings per share. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LHX. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup reduced their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $256.56.

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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.