Gilbert & Cook Inc. Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Gilbert & Cook Inc. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,421 shares of the company’s stock, valued at approximately $544,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bfsg LLC acquired a new position in L3Harris Technologies in the 1st quarter valued at $25,000. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at approximately $28,000. EntryPoint Capital LLC grew its position in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the period. Finally, Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $45,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,312 shares of company stock worth $13,523,822. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LHX. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $247.08.

L3Harris Technologies Stock Up 1.3 %

LHX traded up $2.99 on Monday, reaching $236.67. The company’s stock had a trading volume of 698,400 shares, compared to its average volume of 963,836. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $245.60. The business’s 50 day moving average is $229.66 and its 200 day moving average is $219.95. The stock has a market cap of $44.90 billion, a price-to-earnings ratio of 38.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 EPS. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.96%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.