Gradient Investments LLC Has $12.06 Million Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Gradient Investments LLC raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% during the first quarter, HoldingsChannel reports. The firm owned 57,616 shares of the company’s stock after acquiring an additional 912 shares during the quarter. Gradient Investments LLC’s holdings in L3Harris Technologies were worth $12,060,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 234.3% in 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 during the last quarter. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 acquiring an additional 111 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

LHX stock opened at $243.30 on Tuesday. The stock has a 50-day moving average price of $220.88 and a 200-day moving average price of $217.98. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $45.48 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the company posted $3.06 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LHX. Jefferies Financial Group dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. UBS Group increased their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $256.56.

Insider Transactions at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,961 shares of company stock valued at $1,585,297. Corporate insiders own 0.72% of the company’s stock.

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.