2,452 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Stonebrook Private Inc.

Stonebrook Private Inc. bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,452 shares of the company’s stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strong Tower Advisory Services lifted its position in L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after purchasing an additional 49 shares during the last quarter. Blossom Wealth Management lifted its position in L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of L3Harris Technologies by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after buying an additional 58 shares during the period. Cassaday & Co Wealth Management LLC increased its stake in shares of L3Harris Technologies by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after buying an additional 59 shares during the period. Finally, Sky Investment Group LLC increased its stake in shares of L3Harris Technologies by 4.2% during the third quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock valued at $260,000 after buying an additional 60 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Raymond James boosted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Citigroup upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Wells Fargo & Company reduced their price target on 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, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $229.60.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $214.54 on Monday. The stock has a market capitalization of $40.79 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 1.99 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The stock has a fifty day simple moving average of $210.16 and a two-hundred day simple moving average of $201.62.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company posted $2.86 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.