NBC Securities Inc. Invests $552,000 in L3Harris Technologies, Inc. (NYSE:LHX)

NBC Securities Inc. bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,640 shares of the company's stock, valued at approximately $552,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank boosted its position in shares of L3Harris Technologies by 5.2% in the 1st quarter. Czech National Bank now owns 43,252 shares of the company's stock worth $9,053,000 after purchasing an additional 2,128 shares in the last quarter. Rhumbline Advisers boosted its holdings in L3Harris Technologies by 4.4% in the first quarter. Rhumbline Advisers now owns 337,066 shares of the company's stock worth $70,551,000 after acquiring an additional 14,295 shares in the last quarter. Bowman & Co S.C. boosted its holdings in L3Harris Technologies by 7.4% in the first quarter. Bowman & Co S.C. now owns 4,923 shares of the company's stock worth $1,032,000 after acquiring an additional 341 shares in the last quarter. Somerset Trust Co grew its stake in shares of L3Harris Technologies by 7.6% during the first quarter. Somerset Trust Co now owns 19,488 shares of the company's stock worth $4,079,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Doliver Advisors LP increased its holdings in shares of L3Harris Technologies by 8.9% during the first quarter. Doliver Advisors LP now owns 5,755 shares of the company's stock valued at $1,205,000 after acquiring an additional 472 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LHX. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Truist Financial lowered their price objective 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 upped 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. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Citigroup reduced their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $2.25 on Friday, reaching $244.31. The company's stock had a trading volume of 795,669 shares, compared to its average volume of 1,101,063. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $45.67 billion, a P/E ratio of 31.04, a PEG ratio of 2.42 and a beta of 0.72. The stock has a 50-day moving average price of $222.85 and a 200-day moving average price of $218.31. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

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

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies 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.