Jones Financial Companies Lllp Buys 2,988 Shares of L3Harris Technologies Inc $LHX

Jones Financial Companies Lllp increased its position in L3Harris Technologies Inc (NYSE:LHX) by 49.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,000 shares of the company’s stock after purchasing an additional 2,988 shares during the quarter. Jones Financial Companies Lllp’s holdings in L3Harris Technologies were worth $2,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kiker Wealth Management LLC boosted its holdings in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in L3Harris Technologies in the third quarter valued at approximately $34,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $34,000. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $32,000. Finally, Copia Wealth Management increased its holdings in L3Harris Technologies by 1,842.9% in the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock worth $42,000 after acquiring an additional 129 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 2.2%

LHX opened at $349.62 on Monday. The stock has a market capitalization of $65.40 billion, a PE ratio of 40.99, a P/E/G ratio of 2.52 and a beta of 0.64. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $369.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The business’s 50 day moving average price is $314.93 and its 200 day moving average price is $294.55.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.47 earnings per share. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 58.62%.

Insider Buying and Selling

In related news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the sale, the insider owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LHX shares. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Citigroup raised their target price on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $328.57.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.