L.M. Kohn & Company Invests $213,000 in L3Harris Technologies Inc $LHX

L.M. Kohn & Company purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, HoldingsChannel reports. The fund purchased 850 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Gold Investment Management Ltd. raised its holdings in shares of L3Harris Technologies by 108.4% during the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after acquiring an additional 904 shares during the period. BankPlus Trust Department raised its holdings in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after acquiring an additional 379 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after acquiring an additional 33,019 shares during the period. US Bancorp DE raised its holdings in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after acquiring an additional 5,526 shares during the period. Finally, Dean Capital Management raised its holdings in shares of L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after acquiring an additional 986 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Susquehanna raised their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. UBS Group lifted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Barclays lifted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $287.63.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Down 0.1%

Shares of LHX stock opened at $286.98 on Thursday. The firm has a market capitalization of $53.69 billion, a P/E ratio of 32.07, a PEG ratio of 2.10 and a beta of 0.76. The firm’s fifty day moving average price is $286.25 and its two-hundred day moving average price is $260.62. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is currently 53.63%.

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.