Capital Investment Counsel Inc Invests $210,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Capital Investment Counsel Inc purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 935 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Capital World Investors boosted its holdings in L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after acquiring an additional 3,308,506 shares during the period. Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies by 15.4% in the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after buying an additional 2,002,475 shares during the period. Norges Bank purchased a new position in L3Harris Technologies in the 4th quarter worth about $325,147,000. Finally, Wellington Management Group LLP lifted its holdings in L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of the firm’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 sale, 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. Insiders have sold a total of 109,312 shares of company stock worth $24,712,822 over the last quarter. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Alembic Global Advisors upgraded 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. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $244.43.

L3Harris Technologies Stock Down 0.4 %

Shares of LHX stock traded down $0.84 during trading hours on Tuesday, reaching $229.64. 391,255 shares of the company’s stock were exchanged, compared to its average volume of 982,920. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock has a market cap of $43.56 billion, a PE ratio of 37.28, a PEG ratio of 1.90 and a beta of 0.72. The stock’s fifty day moving average price is $228.02 and its two-hundred day moving average price is $218.67.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. Research analysts predict that L3Harris Technologies, Inc. will post 13.04 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

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.