Northcape Wealth Management LLC Invests $201,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Northcape Wealth Management LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, Holdings Channel.com reports. The fund bought 954 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. Strong Tower Advisory Services grew its position in shares of L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares during the last quarter. Blossom Wealth Management grew its position in shares of L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after buying an additional 51 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of L3Harris Technologies by 13.0% during the 4th 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 last quarter. Cassaday & Co Wealth Management LLC grew its position in shares of L3Harris Technologies by 3.8% during the 3rd 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 last quarter. Finally, Sky Investment Group LLC grew its position in shares of L3Harris Technologies by 4.2% during the 3rd 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 last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’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 sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research report on Thursday, January 11th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $230.88.

L3Harris Technologies Trading Down 1.4 %

Shares of NYSE:LHX opened at $214.05 on Wednesday. The company has a 50 day moving average of $210.30 and a 200-day moving average of $202.18. The firm has a market cap of $40.60 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.00 and a beta of 0.65. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. 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 (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the business earned $2.86 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 12.83 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.