L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHX) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,672 shares of the company’s stock after purchasing an additional 294 shares during the period. Farther Finance Advisors LLC’s holdings in L3Harris Technologies were worth $351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of L3Harris Technologies during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 3.7%

LHX opened at $247.52 on Tuesday. The firm has a market capitalization of $46.27 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $228.89 and its 200-day moving average is $218.09.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.06 EPS. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. L3Harris Technologies’s payout ratio is 56.94%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LHX. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Truist Financial dropped their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the company from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group lowered their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

L3Harris Technologies Company 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.