Dumont & Blake Investment Advisors LLC Has $224,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Dumont & Blake Investment Advisors LLC reduced its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,050 shares of the company’s stock after selling 100 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in L3Harris Technologies were worth $224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cross Staff Investments Inc raised its holdings in L3Harris Technologies by 12.4% during the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares in the last quarter. Boston Partners raised its holdings in L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after acquiring an additional 420,943 shares in the last quarter. Victory Capital Management Inc. raised its holdings in L3Harris Technologies by 40.0% during the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after acquiring an additional 30,358 shares in the last quarter. Stifel Financial Corp raised its holdings in L3Harris Technologies by 3.9% during the fourth quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after acquiring an additional 6,675 shares in the last quarter. Finally, Scout Investments Inc. raised its holdings in L3Harris Technologies by 59.4% during the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after acquiring an additional 13,423 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Barclays increased their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada increased their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Stock Up 0.6 %

Shares of NYSE:LHX opened at $224.58 on Monday. The business has a fifty day simple moving average of $219.69 and a 200 day simple moving average of $212.84. 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. The firm has a market cap of $42.60 billion, a P/E ratio of 36.46, a P/E/G ratio of 1.88 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the company posted $2.86 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,898 shares of company stock valued at $18,558,167. Corporate insiders own 0.87% 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.