Vestmark Advisory Solutions Inc. Buys 1,932 Shares of L3Harris Technologies Inc (NYSE:LHX)

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in L3Harris Technologies Inc by 97.7%, acquiring an additional 1,932 shares during the 1st quarter, bringing their total to 3,910 shares valued at $818,000.
• Insider sales included CEO Christopher E. Kubasik selling 40,138 shares for approximately $10.82 million, resulting in a 21.61% decrease in his ownership of the stock.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, with a dividend yield of 1.8%, to be paid on September 22nd to stockholders of record on September 5th.

Vestmark Advisory Solutions Inc. lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 97.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,910 shares of the company's stock after acquiring an additional 1,932 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in L3Harris Technologies were worth $818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth about $26,000. Beacon Capital Management LLC lifted its position in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after buying an additional 111 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $37,000. Finally, Cornerstone Planning Group LLC grew its position in L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after purchasing an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm'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 owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,138 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $269.52, for a total transaction of $10,817,993.76. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $39,236,182.56. This represents a 21.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,199 shares of company stock valued at $39,045,071 in the last ninety days. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $270.72 on Friday. The company's fifty day moving average price is $260.99 and its 200-day moving average price is $231.70. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $280.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $50.65 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 11.82% and a net margin of 7.94%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm earned $3.24 EPS. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued 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 dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio is presently 53.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. UBS Group raised 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. Susquehanna raised their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday, July 25th. Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Wall Street Zen lowered L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $279.47.

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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.