Legacy Capital Wealth Partners LLC Purchases 56 Shares of L3Harris Technologies Inc (NYSE:LHX)

Legacy Capital Wealth Partners LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,404 shares of the company’s stock after buying an additional 56 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in L3Harris Technologies were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LHX. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 15.5% in 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 acquiring an additional 311,886 shares during the last quarter. FMR LLC boosted its position in L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after purchasing an additional 233,968 shares during the period. Finally, Invesco Ltd. lifted its position 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 worth $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.8%

NYSE:LHX opened at $265.69 on Friday. The stock’s fifty day moving average price is $245.73 and its two-hundred day moving average price is $223.15. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $266.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. The company has a market cap of $49.67 billion, a P/E ratio of 31.52, a P/E/G ratio of 2.05 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data 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. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.81%. L3Harris Technologies’s payout ratio is presently 56.94%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares of the company’s stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LHX. Susquehanna set a $300.00 price objective on shares of L3Harris Technologies and gave the stock a “positive” rating in a research report on Monday. Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.81.

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.