Gables Capital Management Inc. Buys 200 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Gables Capital Management Inc. raised its stake in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 66.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 500 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Gables Capital Management Inc.’s holdings in L3Harris Technologies were worth $105,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LHX. Park Avenue Securities LLC purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $645,000. TD Asset Management Inc increased its stake in shares of L3Harris Technologies by 0.8% during the third quarter. TD Asset Management Inc now owns 80,181 shares of the company’s stock valued at $13,961,000 after buying an additional 607 shares during the period. Assetmark Inc. increased its stake in shares of L3Harris Technologies by 29.2% during the third quarter. Assetmark Inc. now owns 15,857 shares of the company’s stock valued at $2,761,000 after buying an additional 3,580 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of L3Harris Technologies by 9.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,149 shares of the company’s stock valued at $2,986,000 after buying an additional 1,482 shares during the period. Finally, Choate Investment Advisors increased its stake in shares of L3Harris Technologies by 72.6% during the third quarter. Choate Investment Advisors now owns 4,502 shares of the company’s stock valued at $784,000 after buying an additional 1,893 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Up 0.4 %

Shares of LHX stock traded up $0.96 during mid-day trading on Wednesday, hitting $222.09. The company’s stock had a trading volume of 773,409 shares, compared to its average volume of 1,092,328. The stock has a market cap of $42.13 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 1.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $223.33. The business has a 50-day moving average price of $210.97 and a 200 day moving average price of $205.00.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.86 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 12.92 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LHX shares. Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Wells Fargo & Company upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.80.

Get Our Latest Stock Analysis on LHX

L3Harris Technologies Company Profile

(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.

See Also

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

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