Successful Portfolios LLC Invests $210,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Successful Portfolios LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the first quarter, HoldingsChannel reports. The institutional investor purchased 987 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of L3Harris Technologies by 15.4% in the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Capital World Investors raised its stake in shares of L3Harris Technologies by 26.0% in the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of L3Harris Technologies by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock valued at $2,018,870,000 after purchasing an additional 40,448 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of L3Harris Technologies by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after purchasing an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 1.2 %

NYSE LHX opened at $221.96 on Tuesday. The firm has a market cap of $42.10 billion, a P/E ratio of 36.03, a P/E/G ratio of 1.88 and a beta of 0.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The stock’s 50-day moving average is $219.69 and its 200-day moving average is $212.84. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. Barclays increased their price objective 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 price objective 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, Wells Fargo & Company increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $231.80.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Friday, June 14th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock valued at $18,558,167 over the last 90 days. 0.82% of the stock is owned by company insiders.

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.