SlateStone Wealth LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 34,756 shares of the company's stock, valued at approximately $7,275,000.
Other hedge funds have also modified their holdings of the company. Transce3nd LLC lifted its position in L3Harris Technologies by 7.9% during the first quarter. Transce3nd LLC now owns 652 shares of the company's stock worth $137,000 after acquiring an additional 48 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after buying an additional 50 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after buying an additional 52 shares in the last quarter. CWC Advisors LLC. raised its position in shares of L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after buying an additional 53 shares in the last quarter. Finally, Callan Capital LLC raised its position in shares of L3Harris Technologies by 5.0% in the first quarter. Callan Capital LLC now owns 1,107 shares of the company's stock valued at $232,000 after buying an additional 53 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.
L3Harris Technologies Trading Up 1.2%
Shares of L3Harris Technologies stock traded up $3.37 during trading on Friday, hitting $278.19. The company's stock had a trading volume of 1,412,687 shares, compared to its average volume of 1,372,809. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.03. The stock has a market cap of $52.05 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. The stock has a 50-day moving average price of $255.07 and a two-hundred day moving average price of $227.91.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter in the previous year, the firm posted $3.24 earnings per share. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is 53.63%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on LHX shares. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Citigroup boosted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Robert W. Baird boosted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average price target of $279.47.
Read Our Latest Stock Report on LHX
Insiders Place Their Bets
In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 72,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $39,472,018.92. This trade represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,061 shares of company stock worth $28,227,077 in the last ninety days. Insiders own 0.72% of the company's stock.
About L3Harris Technologies
(
Free Report)
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.
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