Register Financial Advisors LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Register Financial Advisors LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 673 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds also recently modified their holdings of the business. Brookmont Capital Management boosted its position in shares of L3Harris Technologies by 1.4% in the first quarter. Brookmont Capital Management now owns 17,580 shares of the company’s stock valued at $3,746,000 after acquiring an additional 244 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $265,000. Stokes Capital Advisors LLC boosted its position in shares of L3Harris Technologies by 1.3% in the first quarter. Stokes Capital Advisors LLC now owns 28,120 shares of the company’s stock valued at $5,992,000 after acquiring an additional 373 shares during the period. Chesley Taft & Associates LLC boosted its position in shares of L3Harris Technologies by 6.1% in the first quarter. Chesley Taft & Associates LLC now owns 2,801 shares of the company’s stock valued at $597,000 after acquiring an additional 160 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of L3Harris Technologies by 18.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,204 shares of the company’s stock valued at $7,928,000 after acquiring an additional 5,877 shares during the period. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a document filed with the SEC, which is available through this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction dated 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 quarter, insiders have sold 82,898 shares of company stock worth $18,558,167. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $224.58 on Friday. The business’s 50-day simple moving average is $219.69 and its 200 day simple moving average is $212.72. The stock has a market cap of $42.60 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 1.87 and a beta of 0.71. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $228.13. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 12.82% and a net margin of 5.82%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.86 earnings per share. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Royal Bank of Canada raised their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Company 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.