Capital Group Private Client Services Inc. Buys 651 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Capital Group Private Client Services Inc. boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,261 shares of the company’s stock after buying an additional 651 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in L3Harris Technologies were worth $1,974,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Bfsg LLC purchased a new position in shares of L3Harris Technologies during the first quarter valued at $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $28,000. EntryPoint Capital LLC lifted its position in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its stake in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX traded down $13.86 during trading hours on Friday, reaching $229.41. The stock had a trading volume of 2,215,825 shares, compared to its average volume of 995,252. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The stock has a fifty day moving average of $226.21 and a 200 day moving average of $215.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock has a market cap of $43.51 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the prior year, the firm earned $2.97 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the company from $245.00 to $257.00 in a research report on Friday. Finally, Royal Bank of Canada lifted 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. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $232.93.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the business’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 value of $5,911,083.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the 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 transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders sold a total of 109,312 shares of company stock valued at $24,712,822 in the last quarter. 0.82% of the stock is currently owned by company 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.