Applied Capital LLC FL Cuts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Applied Capital LLC FL lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,613 shares of the company’s stock after selling 173 shares during the period. Applied Capital LLC FL’s holdings in L3Harris Technologies were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LHX. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. KB Financial Partners LLC grew its stake in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. Blue Trust Inc. grew its stake in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock valued at $18,558,167 in the last ninety days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Up 0.7 %

Shares of LHX traded up $1.48 during midday trading on Tuesday, reaching $223.44. The stock had a trading volume of 224,677 shares, compared to its average volume of 1,008,406. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $228.13. The company’s fifty day simple moving average is $219.69 and its two-hundred day simple moving average is $212.84. The company has a market cap of $42.38 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 1.88 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 (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the business earned $2.86 EPS. The company’s revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s payout ratio is 75.32%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LHX. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

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.