761 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 761 shares of the company’s stock, valued at approximately $159,000.

Other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of L3Harris Technologies by 1,015.9% during the 4th quarter. Van ECK Associates Corp now owns 13,224 shares of the company’s stock worth $2,781,000 after purchasing an additional 12,039 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its stake in L3Harris Technologies by 131.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company’s stock valued at $1,631,000 after acquiring an additional 4,408 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock valued at $1,488,000 after acquiring an additional 1,236 shares in the last quarter. Principal Securities Inc. grew its stake in L3Harris Technologies by 6.7% during the 4th quarter. Principal Securities Inc. now owns 882 shares of the company’s stock valued at $185,000 after acquiring an additional 55 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in L3Harris Technologies by 2.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 71,910 shares of the company’s stock valued at $15,272,000 after acquiring an additional 1,772 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LHX shares. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Jefferies Financial Group dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Truist Financial dropped their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $257.06 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market capitalization of $48.06 billion, a P/E ratio of 32.66, a PEG ratio of 2.42 and a beta of 0.74. The company has a 50 day moving average price of $227.95 and a 200 day moving average price of $218.27. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

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 analysts’ consensus estimates of $2.32 by $0.09. The firm 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 firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $3.06 EPS. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed 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 dividend yield of 1.87%. L3Harris Technologies’s payout ratio is currently 56.94%.

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.