Meridian Financial Partners LLC Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Meridian Financial Partners LLC lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,815 shares of the company’s stock after buying an additional 72 shares during the quarter. Meridian Financial Partners LLC’s holdings in L3Harris Technologies were worth $1,217,000 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. LaFleur & Godfrey LLC grew its position in shares of L3Harris Technologies by 58.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock worth $5,635,000 after buying an additional 9,873 shares during the period. Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. abrdn plc boosted its stake in L3Harris Technologies by 14.6% in the 4th quarter. abrdn plc now owns 19,801 shares of the company’s stock worth $4,139,000 after purchasing an additional 2,530 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in L3Harris Technologies by 81.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,881 shares of the company’s stock worth $4,854,000 after purchasing an additional 10,259 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in L3Harris Technologies by 34.4% in the 4th quarter. State of Alaska Department of Revenue now owns 29,628 shares of the company’s stock worth $6,229,000 after purchasing an additional 7,590 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.9%

NYSE:LHX opened at $244.31 on Friday. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a market cap of $45.67 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The stock has a fifty day simple moving average of $223.54 and a 200-day simple moving average of $218.14. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for 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 business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.06 earnings per share. Analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.96%. L3Harris Technologies’s payout ratio is 56.94%.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $490,000.00. Following the sale, the insider now directly owns 25,325 shares of the company’s stock, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup dropped their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Truist Financial lowered their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Jefferies Financial Group lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock 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 data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $256.56.

About L3Harris Technologies

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.