Stonegate Investment Group LLC Acquires 416 Shares of L3Harris Technologies Inc (NYSE:LHX)

Stonegate Investment Group LLC raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 12.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,753 shares of the company’s stock after acquiring an additional 416 shares during the period. Stonegate Investment Group LLC’s holdings in L3Harris Technologies were worth $786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the fourth quarter worth about $398,507,000. Invesco Ltd. grew its holdings in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock worth $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock worth $155,691,000 after purchasing an additional 289,514 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LHX. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Citigroup lifted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $258.75.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the company’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 transaction of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares of the company’s stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $249.56 on Friday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. The business’s 50 day moving average price is $231.54 and its two-hundred day moving average price is $218.48. The firm has a market cap 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.

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

L3Harris Technologies Announces Dividend

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

About L3Harris Technologies

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.