Novare Capital Management LLC Boosts Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Novare Capital Management LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,971 shares of the company's stock after acquiring an additional 1,037 shares during the quarter. Novare Capital Management LLC's holdings in L3Harris Technologies were worth $9,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $26,000. Beacon Capital Management LLC lifted its stake in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after acquiring an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after acquiring an additional 111 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $37,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related 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 owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction 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 sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Jefferies Financial Group cut their price objective on 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 cut their price objective 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. Truist Financial lowered their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, UBS Group lifted their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $258.75.

L3Harris Technologies Stock Up 1.3%

Shares of NYSE LHX traded up $3.21 during midday trading on Friday, hitting $256.77. 575,399 shares of the stock traded hands, compared to its average volume of 1,151,636. The company has a market cap of $48.00 billion, a PE ratio of 30.46, a P/E/G ratio of 2.04 and a beta of 0.75. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $265.74. The business has a 50 day moving average price of $238.25 and a two-hundred day moving average price of $220.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.06 earnings per share. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.87%. L3Harris Technologies's dividend payout ratio (DPR) is currently 56.94%.

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.