L3Harris Technologies Inc (NYSE:LHX) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 628,626 shares of the company's stock after acquiring an additional 100,106 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.33% of L3Harris Technologies worth $131,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its position in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after purchasing an additional 216 shares in the last quarter. BankPlus Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 6.0% in the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after buying an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after buying an additional 1,236 shares during the last quarter. LaFleur & Godfrey LLC raised its stake in shares of L3Harris Technologies by 58.3% during the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock worth $5,635,000 after acquiring an additional 9,873 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $25,071,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX traded up $1.43 on Wednesday, reaching $253.61. 883,896 shares of the company's stock traded hands, compared to its average volume of 1,148,349. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. The firm has a market cap of $47.41 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.01 and a beta of 0.75. The stock has a 50 day moving average price of $235.88 and a 200-day moving average price of $219.42.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.06 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies's payout ratio is 56.94%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial cut their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. UBS Group upped their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, 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 report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

Insider Activity at L3Harris Technologies

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