L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 272.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,645 shares of the company’s stock after acquiring an additional 40,687 shares during the period. SG Americas Securities LLC’s holdings in L3Harris Technologies were worth $11,858,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in L3Harris Technologies by 201.4% during the first quarter. Empowered Funds LLC now owns 10,404 shares of the company’s stock worth $2,217,000 after acquiring an additional 6,952 shares during the period. Sciencast Management LP purchased a new stake in L3Harris Technologies during the first quarter worth $1,611,000. Quantbot Technologies LP purchased a new stake in L3Harris Technologies during the first quarter worth $1,586,000. Envestnet Portfolio Solutions Inc. boosted its position in L3Harris Technologies by 35.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after purchasing an additional 9,341 shares in the last quarter. Finally, Empirical Finance LLC boosted its position in L3Harris Technologies by 3.4% during the first quarter. Empirical Finance LLC now owns 7,067 shares of the company’s stock worth $1,506,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $231.04 on Friday. The business’s 50-day moving average price is $222.64 and its 200 day moving average price is $214.03. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $233.85. The company has a market capitalization of $43.82 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the business posted $2.86 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies, Inc. will post 12.96 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. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.01%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’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 sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’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 sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The sale 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 company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,898 shares of company stock worth $18,558,167. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently 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.