L3Harris Technologies Inc (NYSE:LHX) Stock Holdings Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,181 shares of the company’s stock after buying an additional 305 shares during the period. Exchange Traded Concepts LLC’s holdings in L3Harris Technologies were worth $875,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Factory Mutual Insurance Co. increased its holdings in shares of L3Harris Technologies by 25.4% in the first quarter. Factory Mutual Insurance Co. now owns 91,700 shares of the company’s stock valued at $19,194,000 after buying an additional 18,600 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of L3Harris Technologies in the first quarter valued at $44,014,000. Sound Income Strategies LLC increased its holdings in shares of L3Harris Technologies by 357.7% in the first quarter. Sound Income Strategies LLC now owns 627 shares of the company’s stock valued at $131,000 after buying an additional 490 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of L3Harris Technologies by 11.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,559 shares of the company’s stock valued at $326,000 after buying an additional 162 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at $159,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.8%

Shares of NYSE LHX opened at $248.78 on Friday. The stock has a market cap of $46.51 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.98 and a beta of 0.74. The business has a 50 day simple moving average of $230.98 and a 200 day simple moving average of $218.57. 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.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.93%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.94%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LHX shares. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Truist Financial lowered their price target on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Citigroup lifted their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a report on Monday, June 9th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company 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 business’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 value of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The transaction 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 business’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 completion of the sale, the chief executive officer now owns 145,572 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.72% of the company’s stock.

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.