1,042 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Bought by Carson Advisory Inc.

Carson Advisory Inc. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,042 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley raised its position in L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of L3Harris Technologies by 4.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after purchasing an additional 82,423 shares during the period. Northern Trust Corp increased its holdings in shares of L3Harris Technologies by 4.6% during the 3rd quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock valued at $273,480,000 after purchasing an additional 68,545 shares in the last quarter. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 15.3% in the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after purchasing an additional 193,690 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after buying an additional 266,468 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LHX shares. Barclays lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada upped their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Raymond James increased their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.33.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, 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 can be accessed through this link. Also, 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 value of $783,919.29. Following 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. In the last 90 days, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Down 0.2 %

L3Harris Technologies stock traded down $0.41 during trading on Thursday, reaching $211.34. 946,183 shares of the company were exchanged, compared to its average volume of 1,125,840. The stock’s 50 day simple moving average is $210.26 and its two-hundred day simple moving average is $202.25. The company has a market capitalization of $40.09 billion, a P/E ratio of 34.38, a PEG ratio of 1.97 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $2.86 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

L3Harris Technologies 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.