Park Avenue Securities LLC Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Park Avenue Securities LLC raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 24.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 6,919 shares of the company’s stock after purchasing an additional 1,359 shares during the quarter. Park Avenue Securities LLC’s holdings in L3Harris Technologies were worth $1,448,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of L3Harris Technologies by 24.3% during the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company’s stock valued at $4,150,000 after purchasing an additional 3,852 shares during the last quarter. Van ECK Associates Corp raised its position in L3Harris Technologies by 1,015.9% in the fourth quarter. Van ECK Associates Corp now owns 13,224 shares of the company’s stock worth $2,781,000 after acquiring an additional 12,039 shares during the period. Adell Harriman & Carpenter Inc. boosted its stake in shares of L3Harris Technologies by 131.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company’s stock worth $1,631,000 after acquiring an additional 4,408 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock valued at $1,488,000 after acquiring an additional 1,236 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of L3Harris Technologies by 6.7% in the 4th quarter. Principal Securities Inc. now owns 882 shares of the company’s stock worth $185,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.8%

LHX opened at $246.79 on Thursday. The company has a market capitalization of $46.14 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm has a 50-day simple moving average of $225.81 and a two-hundred day simple moving average of $218.31. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.06 earnings per share. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares of the company’s stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on LHX shares. Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup increased their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a report on Monday. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Finally, Jefferies Financial Group reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.75.

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.