Concurrent Investment Advisors LLC Trims Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Concurrent Investment Advisors LLC lowered its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% during the 1st quarter, HoldingsChannel reports. The fund owned 17,471 shares of the company’s stock after selling 729 shares during the period. Concurrent Investment Advisors LLC’s holdings in L3Harris Technologies were worth $3,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in LHX. Bfsg LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $25,000. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $28,000. Blue Trust Inc. increased its stake in L3Harris Technologies by 178.7% in 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 last quarter. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% in 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 bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $46,000. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,898 shares of company stock valued at $18,558,167. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LHX shares. 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 report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their target price 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. Barclays increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, Alembic Global Advisors raised shares of 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 given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Stock Up 1.8 %

LHX traded up $4.08 during trading on Monday, reaching $235.12. The stock had a trading volume of 489,874 shares, compared to its average volume of 986,581. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 1.93 and a beta of 0.72. The stock’s 50 day moving average is $222.64 and its two-hundred day moving average is $214.06. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $235.34.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share 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 firm earned $2.86 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.96 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

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.