Concurrent Investment Advisors LLC Decreases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Concurrent Investment Advisors LLC cut its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,471 shares of the company’s stock after selling 729 shares during the period. Concurrent Investment Advisors LLC’s holdings in L3Harris Technologies were worth $3,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bfsg LLC acquired a new position in L3Harris Technologies during the 1st quarter worth $25,000. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at about $28,000. Blue Trust Inc. raised its stake in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in 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 during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

LHX stock traded up $4.08 during trading on Monday, hitting $235.12. The company had a trading volume of 489,874 shares, compared to its average volume of 986,581. The business has a 50 day moving average of $222.64 and a 200 day moving average of $214.06. The firm has a market capitalization of $44.60 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 1.93 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $235.34. 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 issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $2.86 EPS. As a group, research analysts predict that L3Harris Technologies, Inc. will post 12.96 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.97%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Analyst Ratings Changes

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

Insider Activity

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the 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 sale, the chief executive officer now 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. In the last 90 days, insiders have sold 82,898 shares of company stock worth $18,558,167. 0.82% of the stock is owned by corporate 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.