Clarius Group LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Clarius Group LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,398 shares of the company’s stock after buying an additional 79 shares during the period. Clarius Group LLC’s holdings in L3Harris Technologies were worth $294,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LHX. Eagle Bay Advisors LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $27,000. First Capital Advisors Group LLC. acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $29,000. Mascoma Wealth Management LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $27,000. Finally, KB Financial Partners LLC lifted its position in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. In the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $202.62 on Monday. The firm has a 50 day simple moving average of $210.92 and a 200-day simple moving average of $199.17. 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. 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, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34.

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

L3Harris Technologies Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company cut their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $229.00.

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.