L3Harris Technologies Inc (NYSE:LHX) Shares Purchased by Verity Asset Management Inc.

Verity Asset Management Inc. lifted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 68.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,620 shares of the company's stock after buying an additional 1,069 shares during the period. Verity Asset Management Inc.'s holdings in L3Harris Technologies were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its stake in L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after buying an additional 216 shares during the period. BankPlus Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 6.0% in the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after acquiring an additional 117 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after acquiring an additional 1,236 shares in the last quarter. LaFleur & Godfrey LLC boosted its position in L3Harris Technologies by 58.3% during 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 in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in L3Harris Technologies in the fourth quarter worth $25,071,000. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, 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 filing with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm'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 transaction 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 $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research reports. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Truist Financial reduced their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $258.75.

L3Harris Technologies Stock Performance

LHX traded up $3.21 during trading on Thursday, hitting $256.77. The stock had a trading volume of 575,399 shares, compared to its average volume of 1,146,067. The firm has a market capitalization of $48.00 billion, a P/E ratio of 30.46, a PEG ratio of 2.01 and a beta of 0.75. 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 twelve month low of $193.09 and a twelve month high of $265.74. The company's 50-day moving average price is $236.64 and its 200 day moving average price is $219.66.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.06 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies's payout ratio is currently 56.94%.

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.