L.M. Kohn & Company Invests $213,000 in L3Harris Technologies Inc $LHX

L.M. Kohn & Company acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 850 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds also recently modified their holdings of LHX. Brighton Jones LLC increased its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of L3Harris Technologies by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,868 shares of the company’s stock valued at $5,166,000 after purchasing an additional 1,987 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 50.3% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the company’s stock valued at $63,000 after purchasing an additional 100 shares in the last quarter. Amalgamated Bank increased its holdings in shares of L3Harris Technologies by 1.1% in the first quarter. Amalgamated Bank now owns 37,060 shares of the company’s stock valued at $7,757,000 after purchasing an additional 391 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company’s stock valued at $353,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LHX shares. Robert W. Baird raised 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. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. UBS Group raised their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Truist Financial raised their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $286.98 on Thursday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The stock has a market cap of $53.69 billion, a PE ratio of 32.07, a PEG ratio of 2.10 and a beta of 0.76. 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 firm’s 50 day moving average price is $286.25 and its two-hundred day moving average price is $260.62.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

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.