Tyche Wealth Partners LLC Takes $454,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Tyche Wealth Partners LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,157 shares of the company’s stock, valued at approximately $454,000.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in L3Harris Technologies by 4.1% during the 1st quarter. State Street Corp now owns 8,691,190 shares of the company’s stock valued at $1,705,558,000 after purchasing an additional 339,806 shares during the period. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock valued at $696,145,000 after buying an additional 34,726 shares during the period. Morgan Stanley boosted its stake in L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in L3Harris Technologies by 4.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after acquiring an additional 82,423 shares during the last quarter. Finally, Norges Bank acquired a new stake in L3Harris Technologies during the 4th quarter worth $342,413,000. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent research reports. Royal Bank of Canada raised their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Finally, Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

L3Harris Technologies Stock Down 1.4 %

LHX traded down $2.88 during trading on Wednesday, hitting $200.34. The company had a trading volume of 915,221 shares, compared to its average volume of 1,069,702. The company has a market capitalization of $38.09 billion, a PE ratio of 31.12, a PEG ratio of 1.89 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The firm’s 50-day moving average price is $210.70 and its 200 day moving average price is $199.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $3.27 EPS. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $1.16 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 annualized dividend and a yield of 2.32%. L3Harris Technologies’s payout ratio is presently 72.05%.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 in the last quarter. 0.87% of the stock is currently 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.