Washington Trust Advisors Inc. Has $37,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Washington Trust Advisors Inc. increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 80.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 177 shares of the company’s stock after purchasing an additional 79 shares during the period. Washington Trust Advisors Inc.’s holdings in L3Harris Technologies were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its stake in shares of L3Harris Technologies by 1.2% in the 2nd quarter. State Street Corp now owns 8,795,513 shares of the company’s stock valued at $1,721,898,000 after buying an additional 104,323 shares during the period. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock worth $696,145,000 after acquiring an additional 34,726 shares in the last quarter. Morgan Stanley grew its stake in L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of L3Harris Technologies by 5.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,959,403 shares of the company’s stock valued at $341,171,000 after acquiring an additional 101,507 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $342,413,000. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 0.2 %

LHX stock opened at $212.97 on Friday. The stock has a market cap of $40.49 billion, a P/E ratio of 33.07, a P/E/G ratio of 1.96 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $210.91 and its two-hundred day simple moving average is $196.10. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm earned $3.27 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. 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. Stockholders of record on Friday, March 8th were paid a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Citigroup raised their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Finally, UBS Group raised their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

L3Harris Technologies 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.