L3Harris Technologies Inc (NYSE:LHX) Position Raised by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,559 shares of the company’s stock after buying an additional 162 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in L3Harris Technologies were worth $326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $398,507,000. Invesco Ltd. raised its stake in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after buying an additional 510,438 shares during the period. Vanguard Group Inc. lifted its holdings in shares of L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Finally, Deutsche Bank AG boosted its stake in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.8%

Shares of LHX opened at $248.78 on Friday. The business’s 50-day moving average price is $230.98 and its 200 day moving average price is $218.57. The stock has a market capitalization of $46.51 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.98 and a beta of 0.74. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the company posted $3.06 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.93%. L3Harris Technologies’s payout ratio is presently 56.94%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LHX. Truist Financial lowered their target price on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. UBS Group lifted their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Citigroup lifted their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $258.75.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.