Raymond James Financial Services Advisors Inc. Purchases 29,379 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Raymond James Financial Services Advisors Inc. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 882,617 shares of the company’s stock after buying an additional 29,379 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in L3Harris Technologies were worth $188,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after buying an additional 2,692,771 shares in the last quarter. Capital World Investors lifted its position in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of L3Harris Technologies by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after purchasing an additional 40,448 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of L3Harris Technologies by 2.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after purchasing an additional 101,708 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 in the last 90 days. 0.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Wells Fargo & Company decreased their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Citigroup boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note 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 target for the company in a research note on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $230.88.

L3Harris Technologies Stock Down 1.4 %

Shares of NYSE LHX traded down $2.99 during mid-day trading on Tuesday, reaching $214.07. 1,262,034 shares of the company’s stock were exchanged, compared to its average volume of 1,130,599. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $210.30 and a 200 day simple moving average of $202.18. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The firm has a market capitalization of $40.70 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.