L3Harris Technologies, Inc. (NYSE:LHX) Stake Boosted by Lindbrook Capital LLC

Lindbrook Capital LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 52.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,599 shares of the company’s stock after acquiring an additional 552 shares during the period. Lindbrook Capital LLC’s holdings in L3Harris Technologies were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LHX. abrdn plc raised its stake in shares of L3Harris Technologies by 7.7% during the 4th quarter. abrdn plc now owns 366,142 shares of the company’s stock worth $77,117,000 after purchasing an additional 26,046 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in L3Harris Technologies by 86.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,599 shares of the company’s stock worth $758,000 after buying an additional 1,672 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $150,000. Greenleaf Trust lifted its stake in L3Harris Technologies by 4.1% in the fourth quarter. Greenleaf Trust now owns 3,467 shares of the company’s stock valued at $730,000 after acquiring an additional 136 shares during the last quarter. Finally, Naples Money Management LLC bought a new stake in L3Harris Technologies in the fourth quarter worth approximately $120,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LHX shares. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a report on Thursday, January 11th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Citigroup lifted 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the stock in a transaction dated 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 owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $205.45 on Monday. The company has a market capitalization of $39.06 billion, a P/E ratio of 31.90, a P/E/G ratio of 1.91 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. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The stock has a 50 day moving average of $210.30 and a two-hundred day moving average of $200.31.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.27 EPS. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued 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%.

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.