Brookstone Capital Management Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Brookstone Capital Management lessened its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,737 shares of the company’s stock after selling 432 shares during the period. Brookstone Capital Management’s holdings in L3Harris Technologies were worth $796,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 15.4% during 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. Capital World Investors grew its holdings in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of L3Harris Technologies by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after purchasing an additional 40,448 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after purchasing an additional 101,708 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake 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 worth $930,288,000 after buying an additional 1,138,549 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.6 %

LHX stock opened at $224.58 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a market cap of $42.60 billion, a PE ratio of 36.46, a PEG ratio of 1.87 and a beta of 0.71. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13. The company has a fifty day simple moving average of $219.69 and a 200 day simple moving average of $212.80.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $5.11 billion. During the same quarter in the prior year, the company posted $2.86 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $1.16 dividend. 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 is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 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 $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,898 shares of company stock worth $18,558,167. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LHX. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays increased their target price on shares of 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 boosted their price target 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. Alembic Global Advisors upgraded shares of 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. Finally, Wells Fargo & Company raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

About L3Harris Technologies

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.