New England Research & Management Inc. Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

New England Research & Management Inc. raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,215 shares of the company’s stock after purchasing an additional 700 shares during the quarter. New England Research & Management Inc.’s holdings in L3Harris Technologies were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LHX. Federated Hermes Inc. increased its position in shares of L3Harris Technologies by 19.9% during the third quarter. Federated Hermes Inc. now owns 40,105 shares of the company’s stock valued at $6,983,000 after buying an additional 6,652 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of L3Harris Technologies by 37.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,379 shares of the company’s stock valued at $240,000 after buying an additional 377 shares during the period. Treasurer of the State of North Carolina increased its position in shares of L3Harris Technologies by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 83,125 shares of the company’s stock valued at $14,474,000 after buying an additional 420 shares during the period. Synovus Financial Corp increased its position in shares of L3Harris Technologies by 6.2% during the third quarter. Synovus Financial Corp now owns 5,595 shares of the company’s stock valued at $975,000 after buying an additional 325 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in shares of L3Harris Technologies by 588.7% during the third quarter. Qube Research & Technologies Ltd now owns 117,032 shares of the company’s stock valued at $20,378,000 after buying an additional 100,038 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $26,766,518.70. 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 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,898 shares of company stock valued at $18,558,167. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LHX shares. JPMorgan Chase & Co. upped their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Barclays upped their price objective on shares of 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 upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Alembic Global Advisors upgraded shares of 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 company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

L3Harris Technologies Stock Up 0.6 %

Shares of LHX opened at $224.58 on Friday. The firm has a market cap of $42.60 billion, a P/E ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.71. The stock has a 50 day simple moving average of $219.69 and a two-hundred day simple moving average of $212.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.86 earnings per share. On average, analysts forecast that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.