Atticus Wealth Management LLC Grows Stock Position in L3Harris Technologies Inc (NYSE:LHX)

Atticus Wealth Management LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 26.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 595 shares of the company’s stock after acquiring an additional 125 shares during the quarter. Atticus Wealth Management LLC’s holdings in L3Harris Technologies were worth $125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its holdings in L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after acquiring an additional 1,236 shares during the period. Principal Securities Inc. boosted its holdings in L3Harris Technologies by 6.7% in the 4th quarter. Principal Securities Inc. now owns 882 shares of the company’s stock worth $185,000 after acquiring an additional 55 shares during the period. LaFleur & Godfrey LLC boosted its holdings in L3Harris Technologies by 58.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock worth $5,635,000 after acquiring an additional 9,873 shares during the period. Proficio Capital Partners LLC purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $25,071,000. Finally, Brighton Jones LLC boosted its holdings in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

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

L3Harris Technologies Stock Performance

Shares of LHX opened at $249.56 on Friday. The business’s fifty day moving average price is $231.54 and its 200 day moving average price is $218.48. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a market capitalization of $46.66 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

L3Harris Technologies (NYSE:LHX) last announced 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. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the business posted $3.06 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 (DPR) is presently 56.94%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LHX shares. Truist Financial decreased their price target on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. Jefferies Financial Group cut their target price 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. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and upped their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. UBS Group upped their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company cut their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

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.