L3Harris Technologies Inc (NYSE:LHX) Stake Lifted by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. boosted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 12.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,975 shares of the company's stock after purchasing an additional 14,500 shares during the quarter. Schwartz Investment Counsel Inc. owned about 0.07% of L3Harris Technologies worth $27,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its position in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after acquiring an additional 216 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of 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 purchasing an additional 1,236 shares during the last quarter. LaFleur & Godfrey LLC grew its position in shares of L3Harris Technologies by 58.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock valued at $5,635,000 after purchasing an additional 9,873 shares during the period. Proficio Capital Partners LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at $25,071,000. Finally, Brighton Jones LLC lifted its position in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.7%

Shares of LHX traded up $1.69 during trading on Tuesday, reaching $252.53. The company's stock had a trading volume of 950,396 shares, compared to its average volume of 1,144,668. The company has a market cap of $47.21 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 1.97 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $235.13 and a two-hundred day moving average of $219.19. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74.

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 (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This 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

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Truist Financial cut 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 note on Friday, April 25th. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.75.

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.