Wealth Enhancement Advisory Services LLC Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 18.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,204 shares of the company’s stock after buying an additional 5,877 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in L3Harris Technologies were worth $7,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Gotham Asset Management LLC purchased a new stake in shares of L3Harris Technologies during the third quarter valued at $1,212,000. Lazard Asset Management LLC grew its stake in L3Harris Technologies by 661,877.8% during the 3rd quarter. Lazard Asset Management LLC now owns 59,578 shares of the company’s stock valued at $10,373,000 after purchasing an additional 59,569 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of L3Harris Technologies in the third quarter worth about $3,222,000. AQR Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 32.5% during the third quarter. AQR Capital Management LLC now owns 279,339 shares of the company’s stock worth $48,113,000 after purchasing an additional 68,570 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in L3Harris Technologies by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 17,816 shares of the company’s stock valued at $3,102,000 after buying an additional 289 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.6 %

Shares of NYSE LHX opened at $224.58 on Monday. 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 company’s 50-day simple moving average is $219.69 and its 200-day simple moving average is $212.84. The firm has a market cap of $42.60 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the previous year, the business earned $2.86 EPS. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts predict that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.07%. L3Harris Technologies’s payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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 report on Monday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased 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, May 7th. Barclays boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada raised their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. 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 news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, 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 is available through this link. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’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 transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock valued at $18,558,167 in the last 90 days. 0.82% of the stock is owned by insiders.

L3Harris Technologies 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.