Integrated Advisors Network LLC Takes $3.91 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Integrated Advisors Network LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHXFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 18,549 shares of the company’s stock, valued at approximately $3,907,000.

A number of other large investors have also bought and sold shares of LHX. KB Financial Partners LLC grew its position in 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 last quarter. Blue Trust Inc. grew its position in 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 last quarter. Washington Trust Advisors Inc. grew its position in L3Harris Technologies by 80.6% during 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 during the last quarter. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $46,000. Finally, Sachetta LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $49,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LHX. Royal Bank of Canada upped their price objective on 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 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. Barclays increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.80.

View Our Latest Research Report on LHX

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $1.73 during midday trading on Friday, reaching $217.47. The company’s stock had a trading volume of 434,586 shares, compared to its average volume of 691,097. 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 $226.99. The business’s 50 day moving average price is $215.71 and its two-hundred day moving average price is $210.75. The company has a market cap of $41.25 billion, a P/E ratio of 35.30, a P/E/G ratio of 1.84 and a beta of 0.71.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $2.86 earnings per share. On average, analysts forecast that L3Harris Technologies, Inc. will post 12.89 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.13%. L3Harris Technologies’s payout ratio is presently 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $26,766,518.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,553 shares of company stock valued at $26,304,731. 0.82% of the stock is currently owned by insiders.

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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