Balefire LLC Has $626,000 Stock Holdings in L3Harris Technologies Inc (NYSE:LHX)

Balefire LLC raised its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 104.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,990 shares of the company's stock after acquiring an additional 1,531 shares during the period. Balefire LLC's holdings in L3Harris Technologies were worth $626,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Belpointe Asset Management LLC boosted its holdings in L3Harris Technologies by 0.7% during the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after acquiring an additional 52 shares during the period. CWC Advisors LLC. raised its position in L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock worth $546,000 after purchasing an additional 53 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in L3Harris Technologies by 0.6% in the fourth quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock worth $1,873,000 after purchasing an additional 54 shares in the last quarter. Riverwater Partners LLC raised its position in L3Harris Technologies by 3.1% in the first quarter. Riverwater Partners LLC now owns 1,773 shares of the company's stock worth $371,000 after purchasing an additional 54 shares in the last quarter. Finally, BOKF NA increased its holdings in shares of L3Harris Technologies by 0.3% during the fourth quarter. BOKF NA now owns 16,820 shares of the company's stock worth $3,503,000 after buying an additional 55 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

LHX traded up $0.72 on Friday, reaching $247.52. The company had a trading volume of 2,158,843 shares, compared to its average volume of 1,154,827. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The stock has a market cap of $46.27 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.97 and a beta of 0.74. The company's fifty day moving average is $234.39 and its 200 day moving average is $219.10. 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 (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.06 EPS. As a group, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group raised their price objective 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. Wells Fargo & Company cut their price objective 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. Truist Financial cut their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Citigroup lifted their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction dated 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 sale, the insider now owns 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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.