Sowell Financial Services LLC Acquires 2,526 Shares of L3Harris Technologies Inc $LHX

Sowell Financial Services LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 246.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,553 shares of the company’s stock after purchasing an additional 2,526 shares during the period. Sowell Financial Services LLC’s holdings in L3Harris Technologies were worth $1,043,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. State Street Corp increased its holdings in L3Harris Technologies by 1.2% in the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after buying an additional 105,402 shares in the last quarter. Bank of America Corp DE increased its holdings in L3Harris Technologies by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after buying an additional 52,776 shares in the last quarter. Capital Research Global Investors increased its holdings in L3Harris Technologies by 23.3% in the 3rd quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after buying an additional 312,846 shares in the last quarter. AGF Management Ltd. increased its holdings in L3Harris Technologies by 15.9% in the 3rd quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock worth $458,386,000 after buying an additional 205,479 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in L3Harris Technologies by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,440,599 shares of the company’s stock worth $439,920,000 after buying an additional 35,951 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,756 shares in the company, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the transaction, the vice president owned 4,882 shares in the company, valued at $1,666,958.90. The trade was a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,025 shares of company stock worth $6,824,370 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a report on Tuesday, January 13th. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $342.33.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $361.14 on Thursday. The stock has a 50-day simple moving average of $354.27 and a two-hundred day simple moving average of $318.58. L3Harris Technologies Inc has a 52-week low of $195.99 and a 52-week high of $379.23. 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 firm has a market capitalization of $67.46 billion, a PE ratio of 42.34, a P/E/G ratio of 2.57 and a beta of 0.62.

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

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given a $1.25 dividend. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

L3Harris Technologies Profile

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.