L3Harris Technologies Inc (NYSE:LHX) Holdings Raised by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 45.2% in the 1st quarter, HoldingsChannel reports. The firm owned 527 shares of the company’s stock after acquiring an additional 164 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in L3Harris Technologies were worth $110,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LHX. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $26,000. Beacon Capital Management LLC lifted its position in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $37,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Wells Fargo & Company reduced their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup increased their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Jefferies Financial Group reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Truist Financial reduced their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $258.75.

L3Harris Technologies Stock Up 1.3%

LHX opened at $256.77 on Friday. The company has a market capitalization of $48.00 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75. The business has a 50-day moving average of $238.25 and a 200-day moving average of $220.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 earnings per share. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

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.