High Net Worth Advisory Group LLC Lowers Stake in L3Harris Technologies, Inc. (NYSE:LHX)

High Net Worth Advisory Group LLC reduced its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the company’s stock after selling 119 shares during the period. High Net Worth Advisory Group LLC’s holdings in L3Harris Technologies were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. QRG Capital Management Inc. bought a new stake in L3Harris Technologies during the 3rd quarter valued at $308,000. Envestnet Asset Management Inc. grew its holdings in L3Harris Technologies by 56.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 246,312 shares of the company’s stock worth $42,888,000 after acquiring an additional 89,228 shares in the last quarter. Rathbones Group PLC raised its holdings in shares of L3Harris Technologies by 2.5% in the 3rd quarter. Rathbones Group PLC now owns 2,545 shares of the company’s stock valued at $443,000 after purchasing an additional 61 shares in the last quarter. LPL Financial LLC raised its holdings in shares of L3Harris Technologies by 11.0% in the 3rd quarter. LPL Financial LLC now owns 172,366 shares of the company’s stock valued at $30,012,000 after purchasing an additional 17,143 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of L3Harris Technologies by 19.9% in the 3rd quarter. Federated Hermes Inc. now owns 40,105 shares of the company’s stock worth $6,983,000 after purchasing an additional 6,652 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $1.76 during trading on Monday, hitting $227.27. The stock had a trading volume of 55,102 shares, compared to its average volume of 1,001,820. The company has a quick ratio of 0.80, a current ratio of 0.98 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 $227.57. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71. The stock has a 50-day simple moving average of $217.52 and a two-hundred day simple moving average of $212.00.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $2.86 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business 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 annualized dividend and a yield of 2.04%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now 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 link. In related news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,898 shares of company stock valued at $18,558,167. Company 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.