Carret Asset Management LLC Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Carret Asset Management LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,758 shares of the company’s stock after purchasing an additional 278 shares during the period. Carret Asset Management LLC’s holdings in L3Harris Technologies were worth $3,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LHX. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at about $28,000. KB Financial Partners LLC lifted its position in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. Blue Trust Inc. boosted its stake in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $0.98 during trading on Wednesday, reaching $224.58. 421,796 shares of the stock traded hands, compared to its average volume of 1,006,005. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $228.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The business has a fifty day simple moving average of $220.29 and a two-hundred day simple moving average of $213.05. The company has a market capitalization of $42.60 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 1.88 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.07%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,898 shares of company stock worth $18,558,167. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. 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 report on Monday, April 22nd. Royal Bank of Canada upped their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Barclays upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.