L3Harris Technologies Inc (NYSE:LHX) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 37.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,606 shares of the company’s stock after buying an additional 7,213 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in L3Harris Technologies were worth $5,569,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LHX. Invesco Ltd. raised its holdings in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after buying 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 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after buying an additional 510,438 shares during the period. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after buying an additional 311,886 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

Shares of LHX opened at $256.77 on Friday. The firm has a market cap of $48.00 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.04 and a beta of 0.75. The stock has a 50 day moving average of $238.25 and a 200-day moving average of $220.21. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $3.06 EPS. As a group, analysts forecast 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 was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LHX shares. UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Citigroup raised their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Jefferies Financial Group lowered their price objective 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. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price objective for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company lowered their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm’s 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 sale, the insider owned 25,325 shares of the company’s stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.