L3Harris Technologies Inc (NYSE:LHX) Shares Purchased by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 53.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,063 shares of the company’s stock after acquiring an additional 1,062 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in L3Harris Technologies were worth $641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Clearstead Trust LLC purchased a new position in L3Harris Technologies during the 1st quarter worth $26,000. Beacon Capital Management LLC grew its position in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Park Square Financial Group LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $37,000. Finally, Cornerstone Planning Group LLC grew its position in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of LHX opened at $269.69 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a market cap of $50.46 billion, a P/E ratio of 30.13, a PEG ratio of 1.97 and a beta of 0.77. The company has a 50-day moving average of $258.25 and a two-hundred day moving average of $229.92. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.24 earnings per share. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. L3Harris Technologies’s payout ratio is presently 53.63%.

Analysts Set New Price Targets

Several brokerages have issued reports on LHX. Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Truist Financial lifted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, UBS Group lifted their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $279.47.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,061 shares of company stock valued at $28,227,077. 0.72% of the stock is currently owned by company insiders.

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.