Bleakley Financial Group LLC Acquires 502 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Bleakley Financial Group LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 23.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,677 shares of the company’s stock after purchasing an additional 502 shares during the quarter. Bleakley Financial Group LLC’s holdings in L3Harris Technologies were worth $564,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Strong Tower Advisory Services increased its stake in L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares in the last quarter. State of Wyoming increased its stake in L3Harris Technologies by 27.1% during the 4th quarter. State of Wyoming now owns 230 shares of the company’s stock worth $48,000 after purchasing an additional 49 shares in the last quarter. Apollon Wealth Management LLC boosted its position in L3Harris Technologies by 0.9% during the 4th quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock worth $1,234,000 after acquiring an additional 52 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of L3Harris Technologies by 0.9% during the 1st quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after acquiring an additional 54 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of L3Harris Technologies by 12.3% during the 1st quarter. Harbour Investments Inc. now owns 510 shares of the company’s stock worth $100,000 after acquiring an additional 56 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LHX. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, UBS Group raised their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.00.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly 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 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.1 %

LHX stock opened at $202.62 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The company has a fifty day moving average price of $210.92 and a two-hundred day moving average price of $199.00. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The stock has a market cap of $38.52 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the business posted $3.27 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is currently 72.05%.

About L3Harris Technologies

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.