L3Harris Technologies, Inc. (NYSE:LHX) Holdings Raised by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC boosted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,970 shares of the company’s stock after buying an additional 147 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in L3Harris Technologies were worth $626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mizuho Markets Americas LLC grew its stake in L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after buying an additional 2,002,475 shares during the last quarter. Norges Bank acquired a new stake in L3Harris Technologies in the 4th quarter worth $325,147,000. Boston Partners grew its position in L3Harris Technologies by 107.2% in the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after purchasing an additional 420,943 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in shares of L3Harris Technologies by 32,907.5% during the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock valued at $66,208,000 after acquiring an additional 379,094 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of L3Harris Technologies by 53.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after acquiring an additional 296,654 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LHX shares. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group boosted their price target 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. Finally, Raymond James boosted their price target 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

L3Harris Technologies Stock Performance

NYSE LHX opened at $225.31 on Thursday. The firm has a market capitalization of $42.74 billion, a P/E ratio of 36.58, a price-to-earnings-growth ratio of 1.89 and a beta of 0.63. The firm’s fifty day moving average price is $212.06 and its two-hundred day moving average price is $206.65. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $225.90. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the company posted $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 12.92 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business 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. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired 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 in the company, valued at $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’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 owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.82% of the company’s stock.

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.