Strategy Asset Managers LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,240 shares of the company’s stock, valued at approximately $251,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Ameritrade Investment Management LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth $25,000. Wealthcare Capital Management LLC bought a new position in L3Harris Technologies during the first quarter valued at $29,000. Piscataqua Savings Bank bought a new position in L3Harris Technologies during the first quarter valued at $30,000. DB Wealth Management Group LLC bought a new position in L3Harris Technologies during the fourth quarter valued at $32,000. Finally, Sage Private Wealth Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth about $35,000. 79.76% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO William M. Brown sold 30,353 shares of the business’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $217.94, for a total value of $6,615,132.82. Following the completion of the sale, the chief executive officer now owns 426,112 shares of the company’s stock, valued at approximately $92,866,849.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Todd A. Taylor sold 5,312 shares of the business’s stock in a transaction on Friday, June 4th. The stock was sold at an average price of $220.70, for a total transaction of $1,172,358.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,611 shares of company stock valued at $48,120,085. Insiders own 1.40% of the company’s stock.
LHX stock opened at $219.58 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. L3Harris Technologies, Inc. has a 52 week low of $158.09 and a 52 week high of $223.87. The stock has a 50 day moving average of $213.55. The firm has a market cap of $45.01 billion, a PE ratio of 34.10, a PEG ratio of 1.87 and a beta of 0.87.
L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, April 30th. The company reported $3.18 EPS for the quarter, beating the consensus estimate of $2.92 by $0.26. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.01%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the business posted $2.80 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, May 28th. L3Harris Technologies’s dividend payout ratio (DPR) is 35.17%.
L3Harris Technologies Profile
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.
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