Retireful LLC Acquires New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Retireful LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,599 shares of the company's stock, valued at approximately $332,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in L3Harris Technologies by 24.3% in the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company's stock valued at $4,150,000 after acquiring an additional 3,852 shares during the last quarter. Van ECK Associates Corp increased its holdings in L3Harris Technologies by 1,015.9% in the 4th quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock valued at $2,781,000 after purchasing an additional 12,039 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in L3Harris Technologies by 131.7% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company's stock valued at $1,631,000 after purchasing an additional 4,408 shares in the last quarter. Yousif Capital Management LLC boosted its position in L3Harris Technologies by 11.8% in the 4th quarter. Yousif Capital Management LLC now owns 25,063 shares of the company's stock valued at $5,270,000 after buying an additional 2,637 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in L3Harris Technologies by 2.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after buying an additional 53 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

NYSE LHX traded down $0.32 during trading hours on Thursday, reaching $241.99. The company's stock had a trading volume of 1,136,115 shares, compared to its average volume of 1,102,283. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $222.19 and a 200 day simple moving average of $218.33. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a market cap of $45.24 billion, a PE ratio of 30.75, a PEG ratio of 2.42 and a beta of 0.72.

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, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter last year, the company posted $3.06 earnings per share. L3Harris Technologies's revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.98%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Truist Financial reduced their price target 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. Finally, The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $256.56.

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.