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

Stratos Investment Management LLC grew its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.0% in the first quarter, according to its most recent disclosure 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 period. Stratos Investment Management LLC's holdings in L3Harris Technologies were worth $2,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Washington Trust Bank boosted its holdings in L3Harris Technologies by 6.9% during the first quarter. Washington Trust Bank now owns 53,082 shares of the company's stock valued at $11,111,000 after purchasing an additional 3,433 shares in the last quarter. Financial Counselors Inc. acquired a new position in L3Harris Technologies during the 1st quarter worth $296,000. Raleigh Capital Management Inc. lifted its holdings in L3Harris Technologies by 59.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 2,543 shares of the company's stock worth $532,000 after buying an additional 949 shares in the last quarter. Callan Capital LLC lifted its holdings in L3Harris Technologies by 5.0% during the 1st quarter. Callan Capital LLC now owns 1,107 shares of the company's stock worth $232,000 after buying an additional 53 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of L3Harris Technologies by 28.1% in the 1st quarter. TD Private Client Wealth LLC now owns 9,057 shares of the company's stock valued at $1,896,000 after purchasing an additional 1,986 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of 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 upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup raised their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $258.75.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX stock traded up $2.01 during mid-day trading on Wednesday, hitting $259.10. 934,388 shares of the stock were exchanged, compared to its average volume of 1,155,862. The stock has a market capitalization of $48.44 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.05 and a beta of 0.75. The business has a fifty day moving average price of $239.72 and a 200 day moving average price of $220.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results 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. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the business earned $3.06 EPS. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.85%. L3Harris Technologies's payout ratio is currently 56.94%.

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.