Linden Thomas Advisory Services LLC Increases Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Linden Thomas Advisory Services LLC raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,215 shares of the company’s stock after acquiring an additional 488 shares during the period. Linden Thomas Advisory Services LLC’s holdings in L3Harris Technologies were worth $1,730,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Strong Tower Advisory Services lifted its stake in L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares during the period. Blossom Wealth Management boosted its holdings in L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of L3Harris Technologies by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after purchasing an additional 58 shares during the period. Cassaday & Co Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 3.8% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock valued at $282,000 after purchasing an additional 59 shares in the last quarter. Finally, Sky Investment Group LLC lifted its position in shares of L3Harris Technologies by 4.2% in the 3rd quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX traded down $1.41 during mid-day trading on Wednesday, hitting $206.27. The stock had a trading volume of 404,882 shares, compared to its average volume of 1,104,748. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.93 and a beta of 0.65. The company has a 50 day simple moving average of $210.23 and a 200-day simple moving average of $200.95. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed 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. This represents a $4.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is 72.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LHX shares. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group raised their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Raymond James boosted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday. Finally, JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.60.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated 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 sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by company insiders.

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.