L3Harris Technologies Inc (NYSE:LHX) Shares Purchased by Legacy Advisors LLC

Legacy Advisors LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 42.6% during the 1st quarter, HoldingsChannel reports. The fund owned 1,609 shares of the company’s stock after buying an additional 481 shares during the period. Legacy Advisors LLC’s holdings in L3Harris Technologies were worth $337,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LHX. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $398,507,000. Invesco Ltd. raised its holdings in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. GAMMA Investing LLC raised its holdings in shares of L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock worth $107,424,000 after purchasing an additional 510,438 shares during the period. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock worth $155,691,000 after purchasing an additional 289,514 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LHX shares. Citigroup increased their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

L3Harris Technologies Stock Performance

Shares of LHX opened at $248.20 on Thursday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $265.74. The company has a 50-day moving average of $233.22 and a two-hundred day moving average of $218.86. The stock has a market cap of $46.40 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company posted $3.06 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company’s stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.