1,281 Shares in L3Harris Technologies Inc (NYSE:LHX) Bought by Segment Wealth Management LLC

Segment Wealth Management LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,281 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its position in L3Harris Technologies by 58.3% during the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock valued at $5,635,000 after purchasing an additional 9,873 shares during the period. Brighton Jones LLC raised its stake in L3Harris Technologies by 233.9% in 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. Van ECK Associates Corp raised its stake in L3Harris Technologies by 1,015.9% in the fourth 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 in the last quarter. Principal Securities Inc. lifted its holdings in L3Harris Technologies by 6.7% in the fourth quarter. Principal Securities Inc. now owns 882 shares of the company’s stock worth $185,000 after buying an additional 55 shares during the period. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 6.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,393 shares of the company’s stock worth $4,078,000 after acquiring an additional 1,140 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, June 9th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Truist Financial dropped their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, UBS Group upped their price objective 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. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $258.75.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer now directly owns 145,572 shares in the company, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm’s 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 completion of the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $249.56 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a market capitalization of $46.66 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74. The firm has a 50 day moving average of $231.54 and a 200 day moving average of $218.63. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.06 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

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.