World Investment Advisors Lowers Position in L3Harris Technologies Inc (NYSE:LHX)

World Investment Advisors trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,851 shares of the company's stock after selling 1,305 shares during the quarter. World Investment Advisors' holdings in L3Harris Technologies were worth $6,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LHX. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $26,000. Beacon Capital Management LLC raised its stake in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after buying an additional 111 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Up 0.4%

NYSE LHX traded up $0.91 during mid-day trading on Monday, reaching $256.64. The stock had a trading volume of 1,263,187 shares, compared to its average volume of 1,152,082. The stock has a market cap of $47.98 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75. The company has a fifty day moving average price of $238.25 and a 200 day moving average price of $220.27. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.87%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the 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 transaction, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the 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 sale, the insider directly owned 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research reports. UBS Group raised their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Citigroup lifted their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average price target of $258.75.

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.