12,203 Shares in L3Harris Technologies Inc (NYSE:LHX) Acquired by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC acquired a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,203 shares of the company's stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of L3Harris Technologies by 1,015.9% in the fourth quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock worth $2,781,000 after acquiring an additional 12,039 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in L3Harris Technologies by 21.2% during the fourth 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 in the last quarter. Principal Securities Inc. boosted its holdings in L3Harris Technologies by 6.7% during the fourth quarter. Principal Securities Inc. now owns 882 shares of the company's stock worth $185,000 after buying an additional 55 shares in the last quarter. LaFleur & Godfrey LLC boosted its holdings 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 buying an additional 9,873 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $25,071,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

LHX traded up $0.73 on Friday, reaching $249.56. 1,636,432 shares of the company's stock were exchanged, compared to its average volume of 1,138,585. The stock has a market cap of $46.66 billion, a PE ratio of 29.60, a P/E/G ratio of 1.98 and a beta of 0.74. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74. The stock's fifty day moving average price is $231.54 and its 200-day moving average price is $218.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.92%. L3Harris Technologies's payout ratio is presently 56.94%.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Citigroup increased their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. UBS Group increased their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial dropped their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $258.75.

Insider Buying and Selling

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's 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 transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.