Brookstone Capital Management Buys 446 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Posted by Defense World Staff on Sep 23rd, 2023

Brookstone Capital Management raised its stake in L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 25.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,178 shares of the company’s stock after buying an additional 446 shares during the quarter. Brookstone Capital Management’s holdings in L3Harris Technologies were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LHX. BlackRock Inc. lifted its position in shares of L3Harris Technologies by 3.2% in the first quarter. BlackRock Inc. now owns 15,499,913 shares of the company’s stock worth $3,041,703,000 after purchasing an additional 480,610 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of L3Harris Technologies by 6.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,364,874 shares of the company’s stock worth $2,158,070,000 after purchasing an additional 606,598 shares in the last quarter. State Street Corp lifted its position in shares of L3Harris Technologies by 4.1% in the first quarter. State Street Corp now owns 8,691,190 shares of the company’s stock worth $1,705,558,000 after purchasing an additional 339,806 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of L3Harris Technologies by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,043,774 shares of the company’s stock worth $1,050,164,000 after purchasing an additional 24,661 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after purchasing an additional 34,726 shares in the last quarter. Institutional investors own 81.33% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, President Edward J. Zoiss sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $90.84, for a total value of $2,725,200.00. Following the transaction, the president now directly owns 31,923 shares in the company, valued at $2,899,885.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $173.57 on Friday. L3Harris Technologies, Inc. has a one year low of $167.14 and a one year high of $255.10. The company has a market cap of $32.83 billion, a P/E ratio of 41.38, a P/E/G ratio of 4.74 and a beta of 0.72. The firm’s fifty day moving average price is $183.04 and its two-hundred day moving average price is $189.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.09 and a quick ratio of 0.84.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.94 by $0.03. L3Harris Technologies had a net margin of 4.46% and a return on equity of 12.82%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the company posted $3.23 earnings per share. L3Harris Technologies’s revenue was up 13.5% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th were paid a $1.14 dividend. The ex-dividend date was Friday, September 1st. This represents a $4.56 annualized dividend and a dividend yield of 2.63%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 108.57%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, August 18th. Sanford C. Bernstein downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $239.00 to $210.00 in a report on Monday, August 28th. StockNews.com began coverage on shares of L3Harris Technologies in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Bank of America lowered their target price on shares of L3Harris Technologies from $230.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.36.

Check Out Our Latest Report on LHX

L3Harris Technologies Profile

(Free Report)

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, modification, and periodic depot maintenance services for ISR and airborne missions.