Strong Tower Advisory Services Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Strong Tower Advisory Services grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,701 shares of the company’s stock after purchasing an additional 338 shares during the quarter. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $1,189,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $28,000. KB Financial Partners LLC grew its position in shares of 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 buying an additional 82 shares in the last quarter. Blue Trust Inc. increased its stake in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the period. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies in the fourth quarter worth about $46,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

LHX traded down $0.32 during trading on Tuesday, reaching $225.17. 25,525 shares of the company’s stock were exchanged, compared to its average volume of 998,027. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $228.13. The company’s fifty day simple moving average is $217.96 and its 200-day simple moving average is $212.20. The stock has a market capitalization of $42.71 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) 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 last year, the company posted $2.86 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared 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. This represents a $4.64 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $726,912.42. Following the transaction, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,898 shares of company stock valued at $18,558,167. 0.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their target price 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 upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Wells Fargo & Company boosted 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, May 7th. Finally, Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.