Beaumont Financial Advisors LLC Makes New $236,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Beaumont Financial Advisors LLC purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,121 shares of the company’s stock, valued at approximately $236,000.

A number of other large investors have also bought and sold shares of LHX. Norges Bank purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $342,413,000. Cowa LLC purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $26,000. Renaissance Technologies LLC increased its stake in L3Harris Technologies by 284.1% in the 1st quarter. Renaissance Technologies LLC now owns 766,870 shares of the company’s stock worth $150,491,000 after purchasing an additional 567,200 shares during the period. Two Sigma Investments LP purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $83,532,000. Finally, Manning & Napier Group LLC grew its position in shares of L3Harris Technologies by 58.6% in the 3rd quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after buying an additional 381,997 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LHX. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research report on Thursday, January 11th. Citigroup lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Raymond James lifted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies Trading Up 1.7 %

L3Harris Technologies stock opened at $205.45 on Friday. 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 business’s fifty day simple moving average is $210.30 and its two-hundred day simple moving average is $200.05. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a market capitalization of $39.06 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business 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 company posted $3.27 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last quarter. 0.82% of the stock is currently owned by insiders.

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.