B. Riley Wealth Advisors Inc. Has $1.83 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

B. Riley Wealth Advisors Inc. raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,157 shares of the company’s stock after purchasing an additional 1,083 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in L3Harris Technologies were worth $1,832,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $28,000. EntryPoint Capital LLC boosted its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter worth about $45,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $244.66 on Thursday. The firm’s 50 day moving average price is $231.34 and its two-hundred day moving average price is $223.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $247.33. The stock has a market cap of $46.41 billion, a PE ratio of 39.72, a PEG ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.97 earnings per share. As a group, analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.90%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LHX shares. Barclays upped their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.08.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,402 shares of company stock valued at $6,861,855. Company insiders own 0.82% of the company’s stock.

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.