L3Harris Technologies Inc (NYSE:LHX) Shares Sold by Choreo LLC

Key Points

• Choreo LLC reduced its stake in L3Harris Technologies by 49.6% during the first quarter, holding 3,078 shares valued at $644,000.
• Several research firms have adjusted their price targets for L3Harris Technologies, with Susquehanna increasing its target from $300 to $320, while Wells Fargo decreased its target from $268 to $242.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, with an ex-dividend date set for September 5th.

Choreo LLC lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 49.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,078 shares of the company's stock after selling 3,025 shares during the period. Choreo LLC's holdings in L3Harris Technologies were worth $644,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC grew its holdings in L3Harris Technologies by 9.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 6,820 shares of the company's stock worth $1,509,000 after acquiring an additional 562 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of L3Harris Technologies by 22.1% in the 1st quarter. Crestwood Advisors Group LLC now owns 2,271 shares of the company's stock valued at $475,000 after buying an additional 411 shares in the last quarter. Kingsman Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $211,000. Wealth Quarterback LLC boosted its holdings in shares of L3Harris Technologies by 4.3% in the 1st quarter. Wealth Quarterback LLC now owns 2,168 shares of the company's stock valued at $454,000 after buying an additional 90 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of L3Harris Technologies by 3.6% in the 1st quarter. Lindbrook Capital LLC now owns 1,715 shares of the company's stock valued at $359,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LHX shares. Citigroup upped their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird upped their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

Insider Transactions at L3Harris Technologies

In related news, 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 value of $19,522,080.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,061 shares of company stock valued at $28,227,077 in the last quarter. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $1.54 during trading hours on Wednesday, reaching $273.85. 174,468 shares of the stock were exchanged, compared to its average volume of 1,450,999. The stock has a market cap of $51.24 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.03. The firm's 50 day moving average is $252.73 and its 200 day moving average is $226.63.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.24 EPS. Analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.75%. L3Harris Technologies's dividend payout ratio is presently 53.63%.

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.