Mather Group LLC. Takes $123,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Mather Group LLC. purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 585 shares of the company’s stock, valued at approximately $123,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strong Tower Advisory Services boosted its stake in shares of L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares during the period. Blossom Wealth Management grew its stake in L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 12.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares in the last quarter. Finally, Twin Lakes Capital Management LLC grew its stake in shares of L3Harris Technologies by 0.4% in the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,695 shares of the company’s stock valued at $2,559,000 after buying an additional 60 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LHX. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Barclays upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $225.53 on Friday. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $226.99. The company has a market capitalization of $42.78 billion, a P/E ratio of 36.61, a P/E/G ratio of 1.86 and a beta of 0.71. The stock has a 50 day moving average of $217.52 and a two-hundred day moving average of $211.81. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $2.86 earnings per share. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $1.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.06%. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Buying and Selling

In other news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total value of $726,912.42. Following the sale, the vice president now owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly 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 122,898 shares of company stock valued at $27,046,967 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.