Avity Investment Management Inc. Has $370,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Avity Investment Management Inc. lowered its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,735 shares of the company’s stock after selling 210 shares during the period. Avity Investment Management Inc.’s holdings in L3Harris Technologies were worth $370,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LHX. Capital World Investors grew its stake in L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares during the period. Vanguard Group Inc. grew its stake in L3Harris Technologies by 15.4% during the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares during the period. Mizuho Markets Americas LLC grew its stake in L3Harris Technologies by 990.3% during the fourth quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after purchasing an additional 2,002,475 shares during the period. Norges Bank acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $325,147,000. Finally, Wellington Management Group LLP grew its stake in L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $1.40 during mid-day trading on Friday, reaching $224.58. 3,463,346 shares of the company’s stock were exchanged, compared to its average volume of 651,210. The firm has a market capitalization of $42.60 billion, a PE ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.71. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $219.69 and its 200 day simple moving average is $212.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.86 earnings per share. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Insiders sold a total of 82,898 shares of company stock worth $18,558,167 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LHX shares. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

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.