L3Harris Technologies Inc (NYSE:LHX) Shares Bought by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. has increased its holdings in L3Harris Technologies by 14.2%, acquiring an additional 1,917 shares, bringing their total to 15,431 shares valued at approximately $3.23 million.
• Institutional investors and hedge funds collectively own 84.76% of L3Harris Technologies, indicating strong institutional interest in the company.
• L3Harris Technologies recently reported earnings of $2.78 per share, exceeding analyst expectations, with revenue also surpassing estimates, reflecting a 2.4% increase year-over-year.

Benjamin Edwards Inc. lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,431 shares of the company's stock after buying an additional 1,917 shares during the period. Benjamin Edwards Inc.'s holdings in L3Harris Technologies were worth $3,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies during the first quarter worth $26,000. Beacon Capital Management LLC increased its stake in shares of 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 purchasing an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares during the period. Park Square Financial Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $37,000. Finally, Cornerstone Planning Group LLC grew its position in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after buying an additional 139 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LHX. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Royal Bank Of Canada lifted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Finally, Barclays boosted their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Stock Up 0.0%

Shares of NYSE:LHX traded up $0.11 during trading hours on Friday, hitting $271.16. The company's stock had a trading volume of 301,704 shares, compared to its average volume of 1,437,120. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $50.73 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 1.98 and a beta of 0.77. The firm's fifty day moving average price is $260.46 and its 200 day moving average price is $231.17.

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

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the 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 directly owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,472,018.92. This trade represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,199 shares of company stock worth $39,045,071. Insiders own 0.72% of the company's stock.

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.