Xponance Inc. Has $5.48 Million Stock Holdings in L3Harris Technologies Inc (NYSE:LHX)

Xponance Inc. decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.3% in the 1st quarter, HoldingsChannel reports. The firm owned 26,178 shares of the company’s stock after selling 627 shares during the period. Xponance Inc.’s holdings in L3Harris Technologies were worth $5,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in LHX. Brighton Jones LLC lifted its holdings in 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 during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $25,071,000. EverSource Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 135.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,938 shares of the company’s stock worth $407,000 after buying an additional 1,114 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of L3Harris Technologies by 3.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 18,037 shares of the company’s stock worth $3,793,000 after buying an additional 576 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its holdings in shares of L3Harris Technologies by 10.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 2,326 shares of the company’s stock worth $489,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies 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 transaction, the chief executive officer directly owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies 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 transaction, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% 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.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $259.60 on Friday. The stock has a market cap of $48.53 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 2.03 and a beta of 0.75. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average is $242.10 and its 200-day moving average is $221.80. 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 quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.06 earnings per share. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup lifted their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Finally, Truist Financial raised their price target on L3Harris Technologies from $260.00 to $279.00 and gave the stock a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $259.94.

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.