Money Concepts Capital Corp decreased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,149 shares of the company's stock after selling 1,119 shares during the period. Money Concepts Capital Corp's holdings in L3Harris Technologies were worth $659,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. LaFleur & Godfrey LLC grew its stake in L3Harris Technologies by 58.3% during the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock worth $5,635,000 after purchasing an additional 9,873 shares during the period. Brighton Jones LLC grew its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the period. IFP Advisors Inc increased its stake in shares of L3Harris Technologies by 51.6% in the 4th quarter. IFP Advisors Inc now owns 3,128 shares of the company's stock valued at $660,000 after acquiring an additional 1,065 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of L3Harris Technologies by 62.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 9,257 shares of the company's stock valued at $1,947,000 after acquiring an additional 3,546 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of L3Harris Technologies by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 25,484 shares of the company's stock valued at $5,359,000 after acquiring an additional 195 shares during the period. Institutional investors own 84.76% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on LHX. Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Citigroup upped their price target on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Jefferies Financial Group reduced 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, Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five 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, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.
Get Our Latest Research Report on L3Harris Technologies
Insider Transactions at L3Harris Technologies
In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the 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 transaction, the insider directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.
L3Harris Technologies Stock Up 0.7%
L3Harris Technologies stock traded up $1.69 during midday trading on Tuesday, hitting $252.53. 957,380 shares of the stock were exchanged, compared to its average volume of 1,146,799. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The business's 50-day moving average price is $235.13 and its 200-day moving average price is $219.19. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $47.21 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 2.00 and a beta of 0.75.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share 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 firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm earned $3.06 EPS. The company's revenue was down 1.5% compared to the same quarter last year. On average, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.
L3Harris Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.90%. L3Harris Technologies's dividend payout ratio (DPR) is 56.94%.
L3Harris Technologies Profile
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Free Report)
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.
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