J.W. Cole Advisors Inc. Increases Position in L3Harris Technologies, Inc. (NYSE:LHX)

J.W. Cole Advisors Inc. lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 86.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,599 shares of the company’s stock after purchasing an additional 1,672 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in L3Harris Technologies were worth $758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KB Financial Partners LLC grew its stake in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in L3Harris Technologies during the third quarter valued at $35,000. Blue Trust Inc. grew its stake in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $208.14 on Tuesday. The firm has a 50-day moving average price of $210.24 and a 200-day moving average price of $200.64. The firm has a market capitalization of $39.57 billion, a PE ratio of 32.32, a price-to-earnings-growth 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.

L3Harris Technologies (NYSE:LHX) last released its earnings results 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 during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $3.27 EPS. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.23%. L3Harris Technologies’s payout ratio is 72.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LHX shares. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research note on Thursday, January 11th. Raymond James lifted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, UBS Group lifted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $229.60.

Insider Activity at L3Harris Technologies

In related news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last 90 days. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Company 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.