1,283 Shares in L3Harris Technologies Inc (NYSE:LHX) Acquired by Davis R M Inc.

Davis R M Inc. acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,283 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds have also bought and sold shares of LHX. Invesco Ltd. grew its holdings in L3Harris Technologies by 30.5% in 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 period. GAMMA Investing LLC grew its position in L3Harris Technologies by 18,295.3% in the 1st 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 period. Allspring Global Investments Holdings LLC boosted its position in L3Harris Technologies by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Deutsche Bank AG grew its position in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in L3Harris Technologies in the fourth quarter worth approximately $53,011,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Up 1.2%

NYSE:LHX opened at $278.19 on Friday. The company has a market cap of $52.05 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 2.01 and a beta of 0.77. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.03. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $255.07 and a 200-day simple moving average of $227.81.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the business posted $3.24 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $39,472,018.92. The trade was a 33.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the company’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 transaction, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,061 shares of company stock valued at $28,227,077. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, July 28th. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Citigroup raised their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $279.47.

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.