Brighton Jones LLC Takes $243,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Brighton Jones LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,153 shares of the company’s stock, valued at approximately $243,000.

Other large investors also recently modified their holdings of the company. Cross Staff Investments Inc grew its holdings in L3Harris Technologies by 12.4% during the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares during the period. Sapient Capital LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $1,198,000. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $46,000. BKM Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $1,125,000. Finally, South Dakota Investment Council grew its holdings in L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock worth $6,855,000 after acquiring an additional 11,879 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last three months. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Up 0.4 %

Shares of L3Harris Technologies stock opened at $212.24 on Friday. The firm has a market cap of $40.26 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a 50-day simple moving average of $210.22 and a 200-day simple moving average of $202.31.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.86 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.19%. L3Harris Technologies’s dividend payout ratio is 75.32%.

Analyst Ratings Changes

A number of research firms recently issued reports on LHX. Raymond James lifted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Citigroup lifted their price target on 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. lifted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.33.

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.