Brighton Jones LLC Makes New $243,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Brighton Jones LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, HoldingsChannel reports. The fund bought 1,153 shares of the company’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LHX. Mondrian Investment Partners LTD increased its holdings in L3Harris Technologies by 32,907.5% in the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of L3Harris Technologies by 53.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after buying an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of L3Harris Technologies by 22.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after buying an additional 266,468 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $35,207,000. Finally, Invesco Ltd. grew its position 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 buying an additional 193,690 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, 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. Over the last three months, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by insiders.

L3Harris Technologies Stock Up 0.4 %

LHX stock opened at $212.24 on Friday. The stock’s 50 day simple moving average is $210.22 and its 200 day simple moving average is $202.31. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company has a market cap of $40.26 billion, a P/E ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for 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 firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.86 EPS. On average, research analysts expect that L3Harris Technologies, Inc. will post 12.87 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 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. Citigroup upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upped their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group upped their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada upped their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.33.

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.