Mutual Advisors LLC Acquires 4,031 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Mutual Advisors LLC raised its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 88.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,576 shares of the company’s stock after purchasing an additional 4,031 shares during the quarter. Mutual Advisors LLC’s holdings in L3Harris Technologies were worth $1,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bfsg LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter worth $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $28,000. Blue Trust Inc. grew its stake in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $46,000. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LHX. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Barclays boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Finally, Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.80.

View Our Latest Stock Report on L3Harris Technologies

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock worth $18,558,167 over the last ninety days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $225.96 on Wednesday. The company has a market cap of $42.86 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $228.13. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $221.57 and its two-hundred day simple moving average is $213.63.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.86 earnings per share. Research analysts predict that L3Harris Technologies, Inc. will post 12.96 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s payout ratio is currently 75.32%.

L3Harris Technologies Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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