Banque Cantonale Vaudoise Buys New Shares in L3Harris Technologies Inc (NYSE:LHX)

Banque Cantonale Vaudoise purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,811 shares of the company’s stock, valued at approximately $379,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Viawealth LLC purchased a new stake in L3Harris Technologies in the first quarter valued at $363,000. Foundations Investment Advisors LLC boosted its holdings in L3Harris Technologies by 3.4% in the first quarter. Foundations Investment Advisors LLC now owns 2,155 shares of the company’s stock valued at $451,000 after purchasing an additional 71 shares during the last quarter. Prosperity Consulting Group LLC boosted its holdings in L3Harris Technologies by 9.9% in the first quarter. Prosperity Consulting Group LLC now owns 1,270 shares of the company’s stock valued at $266,000 after purchasing an additional 114 shares during the last quarter. Schulhoff & Co. Inc. boosted its holdings in L3Harris Technologies by 5.0% in the first quarter. Schulhoff & Co. Inc. now owns 2,105 shares of the company’s stock valued at $441,000 after purchasing an additional 100 shares during the last quarter. Finally, Nemes Rush Group LLC boosted its holdings in L3Harris Technologies by 6.2% in the first quarter. Nemes Rush Group LLC now owns 34,394 shares of the company’s stock valued at $7,199,000 after purchasing an additional 2,002 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm’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 value of $490,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $39,472,018.92. This represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,061 shares of company stock valued at $28,227,077 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Susquehanna increased their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Truist Financial increased their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Citigroup increased their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, July 28th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.47.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $278.19 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $52.05 billion, a P/E ratio of 31.08, a PEG ratio of 2.01 and a beta of 0.77. The company has a 50 day moving average price of $255.07 and a 200 day moving average price of $227.81. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.03.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the company posted $3.24 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

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.