Wealth Enhancement Advisory Services LLC Purchases 5,877 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,204 shares of the company’s stock after buying an additional 5,877 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in L3Harris Technologies were worth $7,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealthcare Advisory Partners LLC purchased a new stake in L3Harris Technologies in the first quarter worth about $216,000. Bowman & Co S.C. increased its position in L3Harris Technologies by 8.1% during the 1st quarter. Bowman & Co S.C. now owns 3,517 shares of the company’s stock valued at $749,000 after buying an additional 263 shares in the last quarter. Sunbelt Securities Inc. raised its stake in L3Harris Technologies by 13.8% during the first quarter. Sunbelt Securities Inc. now owns 3,950 shares of the company’s stock valued at $842,000 after buying an additional 479 shares during the last quarter. Rezny Wealth Management Inc. boosted its holdings in L3Harris Technologies by 1.0% in the first quarter. Rezny Wealth Management Inc. now owns 5,990 shares of the company’s stock worth $1,276,000 after acquiring an additional 60 shares in the last quarter. Finally, IAM Advisory LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth $1,700,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred 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 of the company’s stock, valued at $27,157,578.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’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 sale, 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 SEC, which is available through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,823,720. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,898 shares of company stock worth $18,558,167. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $224.58 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $42.60 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71. The firm’s 50 day moving average price is $219.69 and its 200-day moving average price is $212.84. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $228.13.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 EPS 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 business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the company earned $2.86 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.07%. L3Harris Technologies’s payout ratio is currently 75.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lifted 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, April 30th. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. 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. boosted their price target 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.