New England Research & Management Inc. Acquires 700 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

New England Research & Management Inc. raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 12.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,215 shares of the company’s stock after buying an additional 700 shares during the period. New England Research & Management Inc.’s holdings in L3Harris Technologies were worth $1,324,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth $28,000. KB Financial Partners LLC grew its position in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Blue Trust Inc. grew its position in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares in the last quarter. Washington Trust Advisors Inc. grew its position in shares of L3Harris Technologies by 80.6% during 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 bought a new position in shares of L3Harris Technologies during the 4th quarter worth $46,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.6 %

L3Harris Technologies stock opened at $224.58 on Friday. The stock has a 50-day moving average of $219.69 and a two-hundred day moving average of $212.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13. The stock has a market cap of $42.60 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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 company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the business posted $2.86 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on LHX. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. 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 report on Monday, April 29th. 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 report on Tuesday, May 7th. Finally, Alembic Global Advisors raised 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 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available at the SEC website. In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $26,766,518.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. 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 three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies 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.