Nkcfo LLC Takes Position in L3Harris Technologies Inc $LHX

Nkcfo LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,900 shares of the company’s stock, valued at approximately $4,245,000. L3Harris Technologies makes up about 1.3% of Nkcfo LLC’s investment portfolio, making the stock its 19th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Kiker Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth about $34,000. Salomon & Ludwin LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $34,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of L3Harris Technologies by 234.8% in the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after buying an additional 108 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $342.41 on Friday. The firm has a market cap of $64.05 billion, a P/E ratio of 40.14, a PEG ratio of 2.44 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $369.59. The stock’s 50-day moving average is $313.50 and its two-hundred day moving average is $293.56.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.47 earnings per share. Analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.5%. L3Harris Technologies’s payout ratio is 58.62%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LHX shares. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, January 12th. Morgan Stanley raised their target price on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday. BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Finally, Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.