Sentry Investment Management LLC Has $119,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Sentry Investment Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 19.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 596 shares of the company’s stock after acquiring an additional 95 shares during the period. Sentry Investment Management LLC’s holdings in L3Harris Technologies were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Empowered Funds LLC raised its holdings in shares of L3Harris Technologies by 24.3% during the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock valued at $4,150,000 after purchasing an additional 3,852 shares during the period. Van ECK Associates Corp raised its stake in L3Harris Technologies by 1,015.9% during the 4th quarter. Van ECK Associates Corp now owns 13,224 shares of the company’s stock worth $2,781,000 after buying an additional 12,039 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in L3Harris Technologies by 131.7% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company’s stock worth $1,631,000 after acquiring an additional 4,408 shares in the last quarter. Yousif Capital Management LLC grew its stake in L3Harris Technologies by 11.8% in the fourth quarter. Yousif Capital Management LLC now owns 25,063 shares of the company’s stock valued at $5,270,000 after acquiring an additional 2,637 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 2.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after acquiring an additional 53 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 0.2%

L3Harris Technologies stock opened at $242.64 on Thursday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $45.36 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $222.19 and a 200 day simple moving average of $218.33.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 earnings per share. On average, analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LHX. Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup cut their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Jefferies Financial Group reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.56.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company’s stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies 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.