LRI Investments LLC Purchases Shares of 918 L3Harris Technologies, Inc. (NYSE:LHX)

LRI Investments LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 918 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds have also recently bought and sold shares of the company. Bfsg LLC bought a new position in L3Harris Technologies in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the period. Finally, Washington Trust Advisors Inc. boosted its stake in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

NYSE:LHX traded down $13.86 during trading hours on Friday, hitting $229.41. The company’s stock had a trading volume of 2,302,156 shares, compared to its average volume of 866,132. The stock has a fifty day simple moving average of $226.21 and a 200-day simple moving average of $216.05. The company has a market capitalization of $43.51 billion, a P/E ratio of 37.24, a PEG ratio of 1.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.05% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the firm posted $2.97 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts anticipate that L3Harris Technologies, Inc. will post 12.99 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LHX shares. Barclays lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $245.00 to $257.00 in a research note on Friday. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. Wells Fargo & Company boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $232.93.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

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.