GAMMA Investing LLC Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

GAMMA Investing LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 929 shares of the company’s stock after purchasing an additional 66 shares during the quarter. GAMMA Investing LLC’s holdings in L3Harris Technologies were worth $198,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. QRG Capital Management Inc. purchased a new stake in L3Harris Technologies in the third quarter valued at about $308,000. Envestnet Asset Management Inc. raised its stake in L3Harris Technologies by 56.8% in the third quarter. Envestnet Asset Management Inc. now owns 246,312 shares of the company’s stock valued at $42,888,000 after buying an additional 89,228 shares during the last quarter. Rathbones Group PLC raised its stake in L3Harris Technologies by 2.5% in the third quarter. Rathbones Group PLC now owns 2,545 shares of the company’s stock valued at $443,000 after buying an additional 61 shares during the last quarter. Hsbc Holdings PLC raised its stake in L3Harris Technologies by 36.6% in the third quarter. Hsbc Holdings PLC now owns 358,439 shares of the company’s stock valued at $62,338,000 after buying an additional 96,068 shares during the last quarter. Finally, LPL Financial LLC raised its stake in L3Harris Technologies by 11.0% in the third quarter. LPL Financial LLC now owns 172,366 shares of the company’s stock valued at $30,012,000 after buying an additional 17,143 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies 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 transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies 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 transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,898 shares of company stock worth $27,046,967. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $224.25 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The business’s 50 day moving average price is $217.06 and its 200-day moving average price is $211.63. The firm has a market capitalization of $42.54 billion, a PE ratio of 36.40, a P/E/G ratio of 1.86 and a beta of 0.71. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $226.99.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for 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 revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.86 earnings per share. As a group, equities research analysts expect 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. Investors of record on Tuesday, June 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.07%. L3Harris Technologies’s payout ratio is 75.32%.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. 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 research note on Monday, April 22nd. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Barclays raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average 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.