L3Harris Technologies Inc (NYSE:LHX) Shares Bought by Atticus Wealth Management LLC

Atticus Wealth Management LLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 26.6% during the first quarter, Holdings Channel.com reports. The firm owned 595 shares of the company’s stock after buying an additional 125 shares during the quarter. Atticus Wealth Management LLC’s holdings in L3Harris Technologies were worth $125,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LHX. Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at $398,507,000. Invesco Ltd. increased 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 valued at $469,992,000 after purchasing an additional 522,861 shares during the period. GAMMA Investing LLC increased 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 valued at $107,424,000 after purchasing an additional 510,438 shares during the period. Vanguard Group Inc. increased 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 valued at $4,895,534,000 after purchasing an additional 401,168 shares during the period. Finally, Deutsche Bank AG increased 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 valued at $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.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer now owns 145,572 shares of the company’s stock, valued at $36,171,730.56. The trade was 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and raised their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup raised their target price on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Truist Financial decreased their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

L3Harris Technologies Trading Up 0.3%

NYSE:LHX opened at $249.56 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $46.66 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The stock has a fifty day simple moving average of $231.54 and a 200 day simple moving average of $218.48.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the company posted $3.06 EPS. L3Harris Technologies’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Tuesday, June 3rd were given a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.92%. L3Harris Technologies’s dividend payout ratio (DPR) is 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.