Norris Perne & French LLP MI Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Norris Perne & French LLP MI raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 96,757 shares of the company’s stock after acquiring an additional 963 shares during the quarter. L3Harris Technologies makes up about 1.5% of Norris Perne & French LLP MI’s holdings, making the stock its 23rd largest holding. Norris Perne & French LLP MI’s holdings in L3Harris Technologies were worth $20,619,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at about $28,000. KB Financial Partners LLC raised its stake in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. Blue Trust Inc. raised its stake in L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth about $46,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock valued at $18,558,167 over the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LHX. Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. raised 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. 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 note 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Price Performance

LHX traded up $1.40 during trading on Friday, hitting $224.58. The company’s stock had a trading volume of 3,463,346 shares, compared to its average volume of 651,210. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $228.13. The business’s fifty day simple moving average is $219.69 and its 200 day simple moving average is $212.72. The firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the company earned $2.86 earnings per share. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.