Financial Planning Hawaii Inc. Makes New $614,000 Investment in L3Harris Technologies Inc $LHX

Financial Planning Hawaii Inc. acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,093 shares of the company’s stock, valued at approximately $614,000.

Other large investors have also modified their holdings of the company. Burns J W & Co. Inc. NY lifted its stake in L3Harris Technologies by 3.1% during the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after buying an additional 30 shares in the last quarter. Wealth Quarterback LLC increased its position in shares of L3Harris Technologies by 1.8% in the fourth quarter. Wealth Quarterback LLC now owns 2,011 shares of the company’s stock worth $590,000 after acquiring an additional 35 shares in the last quarter. Clark Financial Services Group Inc. BD increased its position in shares of L3Harris Technologies by 1.9% in the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,909 shares of the company’s stock worth $594,000 after acquiring an additional 36 shares in the last quarter. Twin Lakes Capital Management LLC raised its holdings in shares of L3Harris Technologies by 0.3% during the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after acquiring an additional 38 shares during the period. Finally, Lantern Wealth Advisors LLC raised its holdings in shares of L3Harris Technologies by 0.8% during the third quarter. Lantern Wealth Advisors LLC now owns 4,699 shares of the company’s stock valued at $1,435,000 after acquiring an additional 38 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $338.96 on Tuesday. The company’s 50 day moving average price is $354.04 and its 200 day moving average price is $315.24. L3Harris Technologies Inc has a 52 week low of $195.72 and a 52 week high of $379.23. The company has a market capitalization of $63.31 billion, a PE ratio of 39.74, a PEG ratio of 2.47 and a beta of 0.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

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

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 58.62%.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $278,110.32. Following the sale, the vice president owned 4,131 shares of the company’s stock, valued at approximately $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,025 shares of company stock valued at $6,824,370 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LHX shares. Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Citigroup boosted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Finally, Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.62.

L3Harris Technologies Company 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.