RFG Advisory LLC Invests $293,000 in L3Harris Technologies, Inc. (NYSE:LHX)

RFG Advisory LLC acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,373 shares of the company’s stock, valued at approximately $293,000.

Other large investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $28,000. KB Financial Partners LLC increased its position in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Blue Trust Inc. raised its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the period. Washington Trust Advisors Inc. lifted its position in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $46,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.4 %

Shares of LHX opened at $224.65 on Wednesday. The stock has a market capitalization of $42.61 billion, a PE ratio of 36.47, a P/E/G ratio of 1.89 and a beta of 0.71. The company’s fifty day moving average is $218.45 and its 200 day moving average is $212.40. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $228.13.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the firm posted $2.86 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts expect that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal 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 $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the sale, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $26,766,518.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sean J. Stackley sold 3,354 shares of the 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 completion of the sale, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,898 shares of company stock worth $18,558,167. 0.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.