UniSuper Management Pty Ltd Purchases 5,070 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

UniSuper Management Pty Ltd lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 291.5% during the first quarter, HoldingsChannel reports. The firm owned 6,809 shares of the company’s stock after buying an additional 5,070 shares during the quarter. UniSuper Management Pty Ltd’s holdings in L3Harris Technologies were worth $1,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bfsg LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares during the period. Finally, Sachetta LLC acquired a new position in L3Harris Technologies in the 4th quarter worth $49,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LHX. 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 report on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Barclays raised 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, April 30th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research note on Monday, April 22nd. Finally, Wells Fargo & Company increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $1.99 during mid-day trading on Tuesday, reaching $240.13. 719,722 shares of the company were exchanged, compared to its average volume of 981,626. The stock has a market capitalization of $45.55 billion, a P/E ratio of 38.98, a P/E/G ratio of 1.95 and a beta of 0.72. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $225.37 and its 200-day simple moving average is $215.46. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $242.86.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period last year, the business posted $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts predict that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insiders Place Their Bets

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were 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 of the company’s stock, valued at $3,823,720. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock worth $24,712,822 in the last 90 days. Company insiders own 0.82% of the company’s stock.

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.