GAMMA Investing LLC Has $328,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

GAMMA Investing LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 57.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,462 shares of the company’s stock after purchasing an additional 533 shares during the quarter. GAMMA Investing LLC’s holdings in L3Harris Technologies were worth $328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bfsg LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $28,000. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 109 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Finally, Sachetta LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were 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 owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 1.3 %

Shares of L3Harris Technologies stock traded down $3.07 during trading on Monday, hitting $227.12. The company’s stock had a trading volume of 915,964 shares, compared to its average volume of 1,005,711. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $245.60. The stock has a market cap of $43.08 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The stock has a 50-day moving average price of $226.57 and a two-hundred day moving average price of $216.92.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 earnings per share. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given 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 yield of 2.04%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $245.00 to $257.00 in a report on Friday, July 26th. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of L3Harris Technologies in a research report on Monday, July 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. Finally, Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $238.50.

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.