Allen Mooney & Barnes Investment Advisors LLC Has $9.43 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,570 shares of the company’s stock after purchasing an additional 62 shares during the period. L3Harris Technologies makes up about 1.8% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 24th biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in L3Harris Technologies were worth $9,426,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares during the last quarter. Capital World Investors raised its holdings in L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after acquiring an additional 3,308,506 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock valued at $2,018,870,000 after acquiring an additional 40,448 shares in the last quarter. Wells Fargo & Company MN raised its holdings in L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after acquiring an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after acquiring an additional 1,138,549 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.0 %

LHX stock opened at $225.49 on Tuesday. The stock’s 50 day simple moving average is $217.96 and its 200 day simple moving average is $212.20. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company has a market cap of $42.77 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Finally, Barclays lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Four investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,898 shares of company stock valued at $18,558,167. Corporate insiders own 0.87% of the company’s stock.

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.