Wedmont Private Capital Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Wedmont Private Capital increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 9.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,109 shares of the company’s stock after purchasing an additional 99 shares during the period. Wedmont Private Capital’s holdings in L3Harris Technologies were worth $246,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after buying an additional 111 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $246.79 on Thursday. The business’s 50 day moving average price is $225.81 and its 200 day moving average price is $218.31. The firm has a market cap of $46.14 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. 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 (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.06 EPS. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current 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 given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.94%. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Wall Street Analyst Weigh In

Several research firms recently commented on LHX. Citigroup boosted their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group cut their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Truist Financial decreased their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and upped their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target 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.