Stephens Investment Management Group LLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,145 shares of the company's stock after purchasing an additional 4,648 shares during the period. Stephens Investment Management Group LLC's holdings in L3Harris Technologies were worth $15,938,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares during the last quarter. GAMMA Investing LLC lifted its holdings in L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after buying an additional 510,438 shares during the last quarter. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock worth $486,898,000 after buying an additional 311,886 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on LHX shares. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Citigroup boosted their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Truist Financial boosted their target price on L3Harris Technologies from $260.00 to $279.00 and gave the company a "buy" rating in a report on Friday. Finally, The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.94.
Check Out Our Latest Report on L3Harris Technologies
L3Harris Technologies Stock Performance
NYSE LHX opened at $259.60 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $242.10 and its two-hundred day moving average is $221.85. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a market capitalization of $48.53 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.03 and a beta of 0.75.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the previous year, the firm posted $3.06 EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. Research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.
L3Harris Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.
Insider Activity at L3Harris Technologies
In related news, CEO Christopher E. Kubasik sold 33,061 shares of the company'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 sale, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.
L3Harris Technologies Company Profile
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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.
Further Reading
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