L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6,993.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,275 shares of the company’s stock after purchasing an additional 91,960 shares during the quarter. SG Americas Securities LLC’s holdings in L3Harris Technologies were worth $19,523,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LHX. LaFleur & Godfrey LLC increased its holdings in shares of L3Harris Technologies by 58.3% during the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock valued at $5,635,000 after purchasing an additional 9,873 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $42,000. Empowered Funds LLC increased its holdings in L3Harris Technologies by 24.3% in the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock worth $4,150,000 after acquiring an additional 3,852 shares in the last quarter. Finally, Core Alternative Capital increased its holdings in L3Harris Technologies by 4.2% in the 4th quarter. Core Alternative Capital now owns 18,561 shares of the company’s stock worth $3,903,000 after acquiring an additional 750 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LHX. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Truist Financial cut their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup boosted their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $258.75.

Insider Buying and Selling 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 stock was 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 approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.2%

Shares of NYSE:LHX opened at $244.89 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $45.78 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm’s 50-day moving average is $224.92 and its two-hundred day moving average is $218.11. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm earned $3.06 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.96%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

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.