Rheos Capital Works Inc. Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

Rheos Capital Works Inc. increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 80.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 67,300 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in L3Harris Technologies were worth $14,087,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Daymark Wealth Partners LLC boosted its position in L3Harris Technologies by 1.7% in the first quarter. Daymark Wealth Partners LLC now owns 26,925 shares of the company’s stock worth $5,636,000 after purchasing an additional 446 shares during the last quarter. NewSquare Capital LLC lifted its stake in shares of L3Harris Technologies by 2.0% in the 1st quarter. NewSquare Capital LLC now owns 3,899 shares of the company’s stock worth $816,000 after purchasing an additional 78 shares during the period. Toth Financial Advisory Corp boosted its holdings in shares of L3Harris Technologies by 670.6% in the first quarter. Toth Financial Advisory Corp now owns 262 shares of the company’s stock worth $55,000 after buying an additional 228 shares during the last quarter. Courier Capital LLC bought a new stake in L3Harris Technologies during the first quarter valued at approximately $266,000. Finally, Capital Investment Advisors LLC increased its holdings in L3Harris Technologies by 18.4% during the first quarter. Capital Investment Advisors LLC now owns 7,352 shares of the company’s stock valued at $1,539,000 after buying an additional 1,141 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 25,325 shares of the company’s stock, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup decreased their target price on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial dropped 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 report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Price Performance

NYSE:LHX opened at $244.31 on Monday. The business’s 50-day moving average is $223.54 and its 200 day moving average is $217.94. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a market capitalization of $45.67 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is 56.94%.

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.