BKM Wealth Management LLC Grows Stake in L3Harris Technologies, Inc. (NYSE:LHX)

BKM Wealth Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 12.4% in the first quarter, Holdings Channel reports. The firm owned 5,863 shares of the company’s stock after buying an additional 649 shares during the period. BKM Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 15.4% during the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Capital World Investors boosted its position in L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after acquiring an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in L3Harris Technologies by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after acquiring an additional 40,448 shares during the last quarter. Wells Fargo & Company MN boosted its position in L3Harris Technologies by 2.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after acquiring an additional 101,708 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The disclosure for this sale can be found here. Insiders sold a total of 82,898 shares of company stock worth $18,558,167 in the last 90 days. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent research reports. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. Royal Bank of Canada boosted their price target 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. Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Barclays boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

L3Harris Technologies Stock Down 0.8 %

Shares of NYSE LHX traded down $1.80 during mid-day trading on Monday, reaching $222.78. The company had a trading volume of 197,735 shares, compared to its average volume of 1,011,362. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $219.69 and a two-hundred day simple moving average of $212.84. The stock has a market cap of $42.26 billion, a P/E ratio of 36.46, a PEG ratio of 1.88 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $228.13.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $2.86 EPS. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors 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 2.08%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

About L3Harris Technologies

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.