Argonautica Private Wealth Management Inc. Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Argonautica Private Wealth Management Inc. lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,163 shares of the company’s stock after buying an additional 147 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in L3Harris Technologies were worth $1,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. KB Financial Partners LLC grew its position in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the period. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies in the 3rd quarter worth about $35,000. Blue Trust Inc. boosted its stake in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in L3Harris Technologies in the 4th quarter worth about $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. 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 transaction, 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 filing with the SEC, which is available through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last 90 days. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research note on Thursday, January 11th. Raymond James upped their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.60.

L3Harris Technologies Stock Performance

LHX traded up $7.18 during midday trading on Friday, reaching $214.54. The company had a trading volume of 2,133,539 shares, compared to its average volume of 1,010,338. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $210.16 and a two-hundred day moving average of $201.28. The company has a market cap of $40.79 billion, a P/E ratio of 34.83, a P/E/G ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34.

L3Harris Technologies (NYSE:LHX) 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. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.86 earnings per share. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is 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.