Stratos Investment Management LLC Buys 1,895 Shares of L3Harris Technologies Inc (NYSE:LHX)

Stratos Investment Management LLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,870 shares of the company's stock after buying an additional 1,895 shares during the quarter. Stratos Investment Management LLC's holdings in L3Harris Technologies were worth $2,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Koshinski Asset Management Inc. raised its stake in shares of L3Harris Technologies by 3.1% during the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock worth $353,000 after purchasing an additional 50 shares during the last quarter. Belpointe Asset Management LLC increased its position in shares of L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after buying an additional 52 shares in the last quarter. CWC Advisors LLC. increased its position in shares of L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after buying an additional 53 shares in the last quarter. Callan Capital LLC increased its position in shares of L3Harris Technologies by 5.0% in the first quarter. Callan Capital LLC now owns 1,107 shares of the company's stock valued at $232,000 after buying an additional 53 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of L3Harris Technologies by 0.6% during the fourth quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock valued at $1,873,000 after acquiring an additional 54 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

LHX stock traded down $0.50 during trading on Friday, reaching $259.60. 954,594 shares of the company's stock were exchanged, compared to its average volume of 1,158,524. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company's fifty day moving average price is $242.10 and its 200-day moving average price is $221.74. The firm has a market cap of $48.53 billion, a PE ratio of 30.79, a P/E/G ratio of 2.03 and a beta of 0.75.

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

L3Harris Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer owned 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies 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 transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of analyst reports. Truist Financial increased their price objective on L3Harris Technologies from $260.00 to $279.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company dropped their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup lifted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Jefferies Financial Group dropped 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. Finally, UBS Group lifted their target price on 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $259.94.

L3Harris Technologies Company 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.