First Trust Direct Indexing L.P. Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

First Trust Direct Indexing L.P. grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,400 shares of the company’s stock after buying an additional 586 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in L3Harris Technologies were worth $1,151,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in LHX. Trust Co. of Oklahoma boosted its stake in shares of L3Harris Technologies by 30.3% in the first quarter. Trust Co. of Oklahoma now owns 2,500 shares of the company’s stock valued at $533,000 after buying an additional 581 shares in the last quarter. Carret Asset Management LLC increased its holdings in shares of L3Harris Technologies by 1.7% in the 1st quarter. Carret Asset Management LLC now owns 16,758 shares of the company’s stock valued at $3,571,000 after purchasing an additional 278 shares in the last quarter. Iams Wealth Management LLC boosted its holdings in L3Harris Technologies by 0.8% during the first quarter. Iams Wealth Management LLC now owns 8,312 shares of the company’s stock worth $1,772,000 after buying an additional 64 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in L3Harris Technologies by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock worth $449,342,000 after buying an additional 66,770 shares during the period. Finally, Oak Thistle LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $761,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock worth $18,558,167 in the last quarter. 0.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note 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. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada lifted their target price 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

View Our Latest Stock Analysis on LHX

L3Harris Technologies Price Performance

LHX stock opened at $224.58 on Friday. The stock has a market capitalization of $42.60 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock’s fifty day simple moving average is $220.97 and its 200-day simple moving average is $213.21. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $228.13. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHXGet Free Report) 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. 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 for the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the company earned $2.86 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.96 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders 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 yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

About L3Harris Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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