Focus Partners Advisor Solutions LLC Has $1.40 Million Stock Position in L3Harris Technologies Inc $LHX

Focus Partners Advisor Solutions LLC boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 86.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,641 shares of the company’s stock after buying an additional 2,156 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in L3Harris Technologies were worth $1,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitlin John LLC bought a new position in shares of L3Harris Technologies in the third quarter worth about $28,000. GGM Financials LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at approximately $32,000. Twin Peaks Wealth Advisors LLC bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $34,000. Salomon & Ludwin LLC acquired a new position in shares of L3Harris Technologies during the third quarter worth approximately $34,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of L3Harris Technologies by 234.8% during the second quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 2.3%

NYSE LHX opened at $360.39 on Friday. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23. The company has a market capitalization of $67.31 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 2.66 and a beta of 0.63. The stock’s 50 day moving average is $341.14 and its two-hundred day moving average is $304.94. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.L3Harris Technologies’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $3.47 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is presently 56.27%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Melanie Rakita sold 751 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the sale, the vice president directly owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. The trade was a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LHX. Citigroup boosted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Vertical Research restated a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a report on Wednesday, January 14th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Finally, UBS Group lifted their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.