L3Harris Technologies Inc (NYSE:LHX) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC lowered its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,638 shares of the company's stock after selling 5,161 shares during the period. LaFleur & Godfrey LLC's holdings in L3Harris Technologies were worth $4,529,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its holdings in L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after buying an additional 1,236 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of L3Harris Technologies by 6.7% in the fourth quarter. Principal Securities Inc. now owns 882 shares of the company's stock valued at $185,000 after purchasing an additional 55 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth $25,071,000. Brighton Jones LLC increased its position in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares during the last quarter. Finally, Capital Analysts LLC increased its holdings in shares of L3Harris Technologies by 4.2% during the 4th quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock worth $9,360,000 after buying an additional 1,808 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This 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 Price Performance

Shares of LHX traded down $4.29 during mid-day trading on Tuesday, hitting $246.82. The company's stock had a trading volume of 1,187,889 shares, compared to its average volume of 1,140,364. The firm has a 50-day simple moving average of $232.12 and a 200 day simple moving average of $218.46. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $46.14 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its 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 net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same period last year, the company posted $3.06 earnings per share. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. 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 was paid on Wednesday, June 18th. Shareholders 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 yield of 1.94%. L3Harris Technologies's payout ratio is currently 56.94%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company decreased their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Truist Financial reduced their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group decreased their price objective 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. Finally, The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

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.