Capital Investment Advisory Services LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Capital Investment Advisory Services LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,090 shares of the company’s stock, valued at approximately $230,000.

Other large investors have also added to or reduced their stakes in the company. KB Financial Partners LLC grew its position in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Blue Trust Inc. grew its position in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the period. Washington Trust Advisors Inc. grew its position in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the period. New England Capital Financial Advisors LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $46,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.0 %

Shares of LHX stock opened at $207.71 on Thursday. The company’s fifty day simple moving average is $210.19 and its two-hundred day simple moving average is $200.99. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock has a market cap of $39.49 billion, a P/E ratio of 32.25, a PEG ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is 72.05%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LHX. Citigroup boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $229.60.

Insider Activity

In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently 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.