Dumont & Blake Investment Advisors LLC Trims Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Dumont & Blake Investment Advisors LLC reduced its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,050 shares of the company’s stock after selling 100 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in L3Harris Technologies were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cornerstone Wealth Group LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at approximately $2,682,000. Founders Financial Securities LLC raised its position in shares of L3Harris Technologies by 8.3% during the 1st quarter. Founders Financial Securities LLC now owns 1,726 shares of the company’s stock valued at $368,000 after acquiring an additional 132 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in shares of L3Harris Technologies by 1.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 15,071 shares of the company’s stock valued at $3,212,000 after acquiring an additional 142 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of L3Harris Technologies by 2.9% during the 1st quarter. Griffin Asset Management Inc. now owns 5,365 shares of the company’s stock valued at $1,143,000 after acquiring an additional 151 shares in the last quarter. Finally, Independence Bank of Kentucky raised its position in shares of L3Harris Technologies by 63.0% during the 1st quarter. Independence Bank of Kentucky now owns 515 shares of the company’s stock valued at $110,000 after acquiring an additional 199 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.6 %

Shares of NYSE LHX opened at $224.58 on Monday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13. The firm has a market capitalization of $42.60 billion, a PE ratio of 36.46, a PEG ratio of 1.88 and a beta of 0.72. 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 business has a 50-day moving average price of $219.69 and a two-hundred day moving average price of $212.84.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping 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 firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the company posted $2.86 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Transactions at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction 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 approximately $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Insiders sold 82,898 shares of company stock valued at $18,558,167 in the last three months. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several analyst reports. Royal Bank of Canada increased their target price on 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 raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Finally, Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Four equities 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.com, the company has an average rating of “Moderate Buy” and an average target price of $231.80.

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.