Davis R M Inc. Takes Position in L3Harris Technologies Inc (NYSE:LHX)

Davis R M Inc. purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,283 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds also recently bought and sold shares of the business. Beacon Capital Management LLC lifted its holdings in 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 acquiring an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $37,000. Cornerstone Planning Group LLC grew its holdings in shares of L3Harris Technologies by 323.3% during 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 during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $39,472,018.92. The trade was a 33.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider 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. Insiders have sold a total of 107,061 shares of company stock valued at $28,227,077 in the last quarter. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $278.19 on Friday. The firm has a market cap of $52.05 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.01 and a beta of 0.77. 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 stock’s fifty day moving average price is $255.07 and its two-hundred day moving average price is $227.81. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.03.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (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 for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the firm posted $3.24 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s payout ratio is 53.63%.

Analyst Ratings Changes

LHX has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and increased their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Citigroup raised their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $279.47.

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.