Stokes Capital Advisors LLC Sells 24,184 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Stokes Capital Advisors LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 84.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,393 shares of the company's stock after selling 24,184 shares during the quarter. Stokes Capital Advisors LLC's holdings in L3Harris Technologies were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in LHX. Raymond James Financial Inc. acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $398,507,000. Invesco Ltd. increased its holdings in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares during the last quarter. GAMMA Investing LLC grew its holdings in L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Vanguard Group Inc. grew its holdings in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% 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 Stock Up 0.9%

LHX stock traded up $2.25 during mid-day trading on Friday, hitting $244.31. 795,669 shares of the company were exchanged, compared to its average volume of 1,102,008. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market cap of $45.67 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.42 and a beta of 0.72. The firm's 50 day simple moving average is $223.54 and its 200 day simple moving average is $218.32.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.06 earnings per share. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.96%. L3Harris Technologies's payout ratio is 56.94%.

Wall Street Analyst Weigh In

LHX has been the topic of several analyst reports. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial lowered their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $256.56.

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.