44 Wealth Management LLC Buys 1,722 Shares of L3Harris Technologies Inc (NYSE:LHX)

44 Wealth Management LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 19.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,581 shares of the company’s stock after buying an additional 1,722 shares during the quarter. 44 Wealth Management LLC’s holdings in L3Harris Technologies were worth $2,215,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in shares of L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after purchasing an additional 216 shares during the last quarter. BankPlus Wealth Management LLC increased its stake in L3Harris Technologies by 6.0% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company’s stock valued at $432,000 after purchasing an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in L3Harris Technologies by 21.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after buying an additional 1,236 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $25,071,000. Finally, Brighton Jones LLC increased its position 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 valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Truist Financial decreased their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group raised their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Finally, Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. 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 has an average rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the 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 transaction, the chief executive officer owned 145,572 shares of the company’s stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 1.3%

LHX stock opened at $256.77 on Friday. 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 Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The business has a 50 day simple moving average of $237.44 and a two-hundred day simple moving average of $219.90. The company has a market capitalization of $48.00 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.02 and a beta of 0.75.

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. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) 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.