L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,220 shares of the company’s stock after purchasing an additional 2,646 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in L3Harris Technologies were worth $6,576,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LHX. KB Financial Partners LLC increased its stake in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at about $35,000. Blue Trust Inc. raised its position in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its position in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Citigroup boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $230.88.

L3Harris Technologies Stock Performance

LHX stock traded down $1.53 during mid-day trading on Tuesday, reaching $215.53. The company had a trading volume of 250,356 shares, compared to its average volume of 1,117,995. The stock’s 50-day simple moving average is $210.26 and its two-hundred day simple moving average is $201.92. The stock has a market capitalization of $40.97 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.99 and a beta of 0.65. 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 one year low of $160.25 and a one year high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm 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 posted $2.86 EPS. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. Research analysts anticipate that L3Harris Technologies, Inc. will post 12.76 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 in the last quarter. Corporate insiders own 0.87% 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.