Successful Portfolios LLC Buys New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Successful Portfolios LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 987 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors also recently modified their holdings of the company. Cornerstone Wealth Group LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at $2,682,000. Founders Financial Securities LLC increased its holdings in L3Harris Technologies by 8.3% in the 1st quarter. Founders Financial Securities LLC now owns 1,726 shares of the company’s stock valued at $368,000 after acquiring an additional 132 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in L3Harris Technologies by 1.0% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 15,071 shares of the company’s stock valued at $3,212,000 after acquiring an additional 142 shares during the last quarter. Griffin Asset Management Inc. increased its holdings in L3Harris Technologies by 2.9% in the 1st quarter. Griffin Asset Management Inc. now owns 5,365 shares of the company’s stock valued at $1,143,000 after acquiring an additional 151 shares during the last quarter. Finally, Independence Bank of Kentucky increased its holdings in L3Harris Technologies by 63.0% in the 1st quarter. Independence Bank of Kentucky now owns 515 shares of the company’s stock valued at $110,000 after acquiring an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $221.96 on Tuesday. The company has a 50 day moving average price of $219.69 and a 200-day moving average price of $212.84. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. The stock has a market capitalization of $42.10 billion, a PE ratio of 36.03, a PEG ratio of 1.88 and a beta of 0.71. 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the company earned $2.86 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.09%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred 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 owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred 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 owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the 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 sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders sold 82,898 shares of company stock valued at $18,558,167 over the last 90 days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LHX shares. Barclays boosted 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, April 30th. Wells Fargo & Company boosted 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. 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 report on Monday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.