SFE Investment Counsel Increases Holdings in L3Harris Technologies Inc (NYSE:LHX)

SFE Investment Counsel increased its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,510 shares of the company's stock after purchasing an additional 2,609 shares during the quarter. SFE Investment Counsel's holdings in L3Harris Technologies were worth $5,339,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Transce3nd LLC boosted its stake in shares of L3Harris Technologies by 7.9% in the 1st quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after buying an additional 48 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after acquiring an additional 50 shares during the period. Belpointe Asset Management LLC boosted its position in L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after purchasing an additional 52 shares during the last quarter. CWC Advisors LLC. grew its stake in shares of L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after purchasing an additional 53 shares during the period. Finally, Callan Capital LLC increased its position in shares of L3Harris Technologies by 5.0% during the 1st quarter. Callan Capital LLC now owns 1,107 shares of the company's stock valued at $232,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded down $4.15 during trading on Friday, hitting $269.07. 1,965,092 shares of the company's stock were exchanged, compared to its average volume of 1,267,688. The business's 50-day simple moving average is $250.37 and its 200 day simple moving average is $225.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.85. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.03. The company has a market cap of $50.30 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.13 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the firm posted $3.24 EPS. The company's revenue was up 2.4% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.78%. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Analysts Set New Price Targets

LHX has been the topic of a number of research reports. Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a report on Friday. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday. Wall Street Zen cut L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $276.53.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.