Strategic Blueprint LLC Acquires 1,140 Shares of L3Harris Technologies Inc $LHX

Key Points

• Strategic Blueprint LLC increased its stake in L3Harris Technologies by 112.0% during the second quarter, acquiring an additional 1,140 shares, bringing total holdings to 2,158 shares valued at $541,000.
• L3Harris Technologies reported earnings per share (EPS) of $2.78, surpassing the consensus estimate of $2.48, with revenue for the quarter at $5.43 billion, exceeding expectations as well.
• The company declared a quarterly dividend of $1.20 per share, which will be paid on December 5th, representing an annualized yield of 1.6% with a payout ratio of 53.63%.

Strategic Blueprint LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 112.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,158 shares of the company's stock after buying an additional 1,140 shares during the quarter. Strategic Blueprint LLC's holdings in L3Harris Technologies were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LHX. Brighton Jones LLC lifted its holdings in shares of L3Harris Technologies by 233.9% in 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 in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after buying an additional 216 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of L3Harris Technologies by 351.3% in the first quarter. Golden State Wealth Management LLC now owns 898 shares of the company's stock worth $188,000 after buying an additional 699 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of L3Harris Technologies by 3.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 116,766 shares of the company's stock worth $24,440,000 after buying an additional 3,637 shares in the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of L3Harris Technologies by 15.7% in the first quarter. PDS Planning Inc now owns 1,273 shares of the company's stock worth $266,000 after buying an additional 173 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.0%

LHX stock opened at $293.22 on Friday. The company has a market capitalization of $54.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The company's 50 day moving average price is $285.35 and its two-hundred day moving average price is $258.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $3.24 earnings per share. As a group, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 195,138 shares of company stock worth $53,571,774 over the last quarter. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Barclays raised their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Truist Financial raised their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $287.63.

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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