&Partners Acquires New Position in L3Harris Technologies, Inc. (NYSE:LHX)

&Partners bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,371 shares of the company’s stock, valued at approximately $299,000.

Several other large investors have also recently modified their holdings of LHX. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $28,000. KB Financial Partners LLC raised its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Blue Trust Inc. lifted its holdings in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the firm’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 completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,898 shares of company stock worth $18,558,167. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $225.51 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The firm has a market cap of $42.77 billion, a P/E ratio of 36.61, a P/E/G ratio of 1.88 and a beta of 0.71. The firm’s fifty day moving average is $217.52 and its 200 day moving average is $212.00. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $226.99.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for 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%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $2.86 earnings per share. Research analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Barclays upped their price target 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. Wells Fargo & Company lifted 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. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

About L3Harris Technologies

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.