Sunbelt Securities Inc. Acquires 479 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Sunbelt Securities Inc. raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,950 shares of the company’s stock after purchasing an additional 479 shares during the period. Sunbelt Securities Inc.’s holdings in L3Harris Technologies were worth $842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at about $28,000. KB Financial Partners LLC grew its holdings 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 worth $29,000 after acquiring an additional 82 shares during the period. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. raised its position in shares of 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 acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at approximately $46,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LHX shares. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Barclays boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,157,578.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction on Tuesday, June 4th. The shares were 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 owns 120,326 shares in the company, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,898 shares of company stock valued at $18,558,167. 0.87% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

LHX opened at $223.18 on Friday. The company’s 50-day simple moving average is $218.89 and its two-hundred day simple moving average is $212.48. 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 stock has a market capitalization of $42.33 billion, a P/E ratio of 36.23, a P/E/G ratio of 1.88 and a beta of 0.71. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $228.13.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating 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 company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the prior year, the firm earned $2.86 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts predict that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.