HB Wealth Management LLC Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

HB Wealth Management LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 35.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,308 shares of the company’s stock after buying an additional 870 shares during the quarter. HB Wealth Management LLC’s holdings in L3Harris Technologies were worth $697,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LHX. Acadian Asset Management LLC grew its holdings in L3Harris Technologies by 283.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock valued at $272,000 after buying an additional 815 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in L3Harris Technologies during the 1st quarter valued at about $8,013,000. Sei Investments Co. grew its holdings in L3Harris Technologies by 14.2% during the 1st quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock valued at $15,643,000 after buying an additional 7,773 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in L3Harris Technologies by 18.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock valued at $838,000 after buying an additional 537 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in L3Harris Technologies by 16.7% during the 1st quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock valued at $306,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 81.33% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $211.13 on Wednesday. The business has a 50 day moving average of $210.63 and a 200 day moving average of $195.68. The company has a market capitalization of $40.14 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.97 and a beta of 0.65. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company posted $3.27 EPS. L3Harris Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a yield of 2.20%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s payout ratio is presently 72.05%.

Analysts Set New Price Targets

A number of research firms have weighed in on LHX. Royal Bank of Canada lifted their target price on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Truist Financial boosted their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Raymond James boosted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Read Our Latest Stock Analysis on L3Harris Technologies

Insider Buying and Selling at L3Harris Technologies

In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,362 shares of company stock worth $1,772,560. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies, Inc. (NYSE:LHXFree Report).

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.