Defined Wealth Management LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Defined Wealth Management LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) during the fourth quarter, Holdings Channel reports. The fund acquired 1,085 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently bought and sold shares of the company. Daymark Wealth Partners LLC boosted its holdings in L3Harris Technologies by 40.1% during the 4th quarter. Daymark Wealth Partners LLC now owns 26,583 shares of the company’s stock worth $5,599,000 after acquiring an additional 7,607 shares during the last quarter. IFP Advisors Inc boosted its holdings in L3Harris Technologies by 189.9% during the 4th quarter. IFP Advisors Inc now owns 7,102 shares of the company’s stock worth $1,496,000 after acquiring an additional 4,652 shares during the last quarter. Collective Family Office LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $204,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of L3Harris Technologies by 45.8% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 63,990 shares of the company’s stock worth $13,478,000 after buying an additional 20,100 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in shares of L3Harris Technologies by 1.2% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 9,683 shares of the company’s stock worth $2,042,000 after buying an additional 119 shares during the last quarter. 81.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 0.2 %

LHX traded down $0.50 during trading on Friday, reaching $212.86. The stock had a trading volume of 1,872,550 shares, compared to its average volume of 1,132,480. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a market capitalization of $40.46 billion, a price-to-earnings ratio of 33.05, a P/E/G ratio of 2.01 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $209.84 and its two-hundred day moving average is $193.96.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $3.27 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s payout ratio is 72.05%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Finally, TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Check Out Our Latest Stock Report on L3Harris Technologies

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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