Schear Investment Advisers LLC Purchases New Position in L3Harris Technologies Inc (NYSE:LHX)

Schear Investment Advisers LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 982 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds have also added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $26,000. Beacon Capital Management LLC grew its holdings in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the 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 transaction, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was 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 position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Jefferies Financial Group reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Susquehanna lifted their price target on L3Harris Technologies from $258.00 to $300.00 and gave the stock a "positive" rating in a report on Monday. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Truist Financial boosted their price objective on L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $262.56.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $1.98 during trading on Monday, hitting $261.53. 327,333 shares of the company were exchanged, compared to its average volume of 1,156,766. The business's 50 day moving average is $242.10 and its 200-day moving average is $221.85. The company has a market capitalization of $48.89 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data 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. The business 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%. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.06 earnings per share. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued 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 1.84%. L3Harris Technologies's payout ratio is currently 56.94%.

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.