L3Harris Technologies, Inc. (NYSE:LHX) Stake Raised by Carret Asset Management LLC

Carret Asset Management LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,758 shares of the company’s stock after purchasing an additional 278 shares during the period. Carret Asset Management LLC’s holdings in L3Harris Technologies were worth $3,571,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LHX. Iams Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 0.8% in the 1st quarter. Iams Wealth Management LLC now owns 8,312 shares of the company’s stock worth $1,772,000 after acquiring an additional 64 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of L3Harris Technologies by 3.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock worth $449,342,000 after buying an additional 66,770 shares during the period. Oak Thistle LLC purchased a new position in shares of L3Harris Technologies during the first quarter valued at $761,000. BKM Wealth Management LLC lifted its holdings in shares of L3Harris Technologies by 12.4% during the 1st quarter. BKM Wealth Management LLC now owns 5,863 shares of the company’s stock valued at $1,249,000 after buying an additional 649 shares during the last quarter. Finally, Successful Portfolios LLC acquired a new position in L3Harris Technologies during the first quarter worth $210,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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 research note on Tuesday, May 7th. Barclays lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their price objective on 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 L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.80.

Insiders Place Their Bets

In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies 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 transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction that occurred on 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 approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders sold a total of 82,898 shares of company stock valued at $18,558,167 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX traded up $0.98 during trading hours on Wednesday, reaching $224.58. 421,796 shares of the company were exchanged, compared to its average volume of 1,006,005. The company has a market capitalization of $42.60 billion, a P/E ratio of 36.49, a P/E/G 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. The business has a 50 day moving average of $220.29 and a 200 day moving average of $213.05. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $228.13.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the company posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Research analysts forecast that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

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.