Cary Street Partners Investment Advisory LLC Purchases 571 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Cary Street Partners Investment Advisory LLC raised its position in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 41.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,950 shares of the company’s stock after purchasing an additional 571 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in L3Harris Technologies were worth $411,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley grew its stake in L3Harris Technologies by 1.9% in the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in L3Harris Technologies by 4.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after buying an additional 82,423 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of L3Harris Technologies by 4.6% in the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock valued at $273,480,000 after buying an additional 68,545 shares during the period. Invesco Ltd. increased its position in shares of L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after acquiring an additional 193,690 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after acquiring an additional 266,468 shares during the period. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LHX shares. Royal Bank of Canada increased their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Barclays raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $231.80.

Get Our Latest Report on L3Harris Technologies

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $221.13 on Wednesday. The stock’s fifty day moving average price is $210.82 and its two-hundred day moving average price is $204.64. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $222.57. The firm has a market cap of $41.94 billion, a price-to-earnings ratio of 35.90, a P/E/G ratio of 1.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company 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 earned $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 12.92 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.10%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies 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 transaction, 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 filing with the SEC, which is available at the SEC website. In other news, 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 completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies 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 sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last three months. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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