Calamos Advisors LLC Raises Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Calamos Advisors LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,206 shares of the company’s stock after acquiring an additional 4,955 shares during the period. Calamos Advisors LLC owned approximately 0.11% of L3Harris Technologies worth $41,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new stake in shares of L3Harris Technologies during the second quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new position in L3Harris Technologies during the first quarter valued at $27,000. First Capital Advisors Group LLC. acquired a new position in L3Harris Technologies during the second quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new position in L3Harris Technologies during the third quarter valued at $27,000. Finally, KB Financial Partners LLC increased its holdings in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.3 %

Shares of NYSE LHX traded up $0.68 during mid-day trading on Thursday, reaching $202.08. The company had a trading volume of 683,568 shares, compared to its average volume of 1,122,904. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $210.54 and a two-hundred day simple moving average of $199.59. The stock has a market cap of $38.42 billion, a P/E ratio of 31.27, a PEG ratio of 1.86 and a beta of 0.65. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.27 EPS. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a yield of 2.30%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the 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 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 can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was 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 owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last 90 days. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LHX. UBS Group lifted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research note on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

L3Harris Technologies Profile

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.