Cornell Pochily Investment Advisors Inc. Acquires New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,070 shares of the company’s stock, valued at approximately $436,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State of Wyoming grew its holdings in L3Harris Technologies by 27.1% during the fourth quarter. State of Wyoming now owns 230 shares of the company’s stock valued at $48,000 after purchasing an additional 49 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of L3Harris Technologies by 0.9% in the fourth quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock worth $1,234,000 after acquiring an additional 52 shares during the last quarter. Advisory Services Network LLC lifted its position in L3Harris Technologies by 0.9% in the first quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after purchasing an additional 54 shares during the period. Harbour Investments Inc. lifted its position in L3Harris Technologies by 12.3% in the first quarter. Harbour Investments Inc. now owns 510 shares of the company’s stock worth $100,000 after purchasing an additional 56 shares during the period. Finally, Cassaday & Co Wealth Management LLC lifted its position in L3Harris Technologies by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $1.32 on Thursday, hitting $213.82. 290,257 shares of the company’s stock were exchanged, compared to its average volume of 1,113,734. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The stock has a market cap of $40.65 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a 50 day moving average of $210.75 and a 200 day moving average of $195.98.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $3.27 earnings per share. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $1.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction that occurred 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 directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction that occurred 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 directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 over the last ninety days. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, Royal Bank of Canada boosted their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

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.