L3Harris Technologies Inc (NYSE:LHX) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC grew its holdings in L3Harris Technologies Inc (NYSE:LHX) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,620 shares of the company’s stock after acquiring an additional 203 shares during the quarter. Tectonic Advisors LLC’s holdings in L3Harris Technologies were worth $548,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in shares of L3Harris Technologies by 5.1% in the first 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 raised its stake in shares of L3Harris Technologies by 6.0% in the first quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company’s stock worth $432,000 after purchasing an additional 117 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of 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 purchasing an additional 1,236 shares during the last quarter. Brighton Jones LLC raised its position in 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. Finally, Capital Analysts LLC raised its position in L3Harris Technologies by 4.2% during the fourth quarter. Capital Analysts LLC now owns 44,510 shares of the company’s stock valued at $9,360,000 after acquiring an additional 1,808 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated 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 directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reiterated a “buy” rating and set a $300.00 price target (up from $280.00) on shares of L3Harris Technologies in a research report on Monday. Wells Fargo & Company reduced their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Susquehanna set a $300.00 price target on L3Harris Technologies and gave the company a “positive” rating in a research report on Monday. Finally, UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $263.81.

L3Harris Technologies Stock Performance

NYSE LHX opened at $261.27 on Wednesday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market capitalization of $48.84 billion, a P/E ratio of 30.99, a PEG ratio of 2.04 and a beta of 0.75. The business has a 50 day moving average price of $243.87 and a 200 day moving average price of $222.48. 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 posted 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 business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the firm earned $3.06 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm 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. This represents a $4.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 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.