Benjamin F. Edwards & Company Inc. Raises Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Benjamin F. Edwards & Company Inc. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 48.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,673 shares of the company’s stock after purchasing an additional 1,519 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in L3Harris Technologies were worth $984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LHX. Verdence Capital Advisors LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $209,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in L3Harris Technologies by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,161 shares of the company’s stock worth $8,386,000 after acquiring an additional 3,779 shares in the last quarter. Strs Ohio grew its holdings in L3Harris Technologies by 4.4% in the third quarter. Strs Ohio now owns 175,800 shares of the company’s stock worth $30,610,000 after purchasing an additional 7,395 shares during the period. IFM Investors Pty Ltd boosted its position in shares of L3Harris Technologies by 9.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 19,684 shares of the company’s stock worth $3,427,000 after purchasing an additional 1,672 shares in the last quarter. Finally, Foyston Gordon & Payne Inc raised its stake in L3Harris Technologies by 13.6% during the third quarter. Foyston Gordon & Payne Inc now owns 24,792 shares of the company’s stock valued at $4,317,000 after buying an additional 2,967 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $231.33.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $214.75 on Tuesday. The stock has a 50-day moving average price of $210.24 and a 200 day moving average price of $203.13. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The stock has a market capitalization of $40.73 billion, a P/E ratio of 34.86, a P/E/G ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the business posted $2.86 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were 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 directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were 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 directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last quarter. 0.87% of the stock is owned by corporate insiders.

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.