Stonebridge Financial Group LLC Buys 1,269 Shares of L3Harris Technologies Inc (NYSE:LHX)

Stonebridge Financial Group LLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,325 shares of the company's stock after buying an additional 1,269 shares during the period. Stonebridge Financial Group LLC's holdings in L3Harris Technologies were worth $3,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Geode Capital Management LLC raised its position in L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after purchasing an additional 53,787 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after purchasing an additional 311,886 shares in the last quarter. FMR LLC raised its position in L3Harris Technologies by 11.5% during the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Finally, Invesco Ltd. raised its position in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Up 0.3%

Shares of NYSE:LHX opened at $247.52 on Friday. The company has a fifty day moving average of $234.39 and a 200-day moving average of $219.03. The company has a market capitalization of $46.27 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. 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 earnings per share. L3Harris Technologies's revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. L3Harris Technologies's dividend payout ratio is 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. Citigroup boosted their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective 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. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group lowered 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. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer now owns 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the business's 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 sale, the insider now directly owns 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. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Company 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.

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