ORG Wealth Partners LLC Buys Shares of 202 L3Harris Technologies Inc (NYSE:LHX)

ORG Wealth Partners LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 202 shares of the company’s stock, valued at approximately $42,000.

Several other large investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in L3Harris Technologies in the fourth quarter worth about $398,507,000. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. GAMMA Investing LLC boosted its holdings in shares of L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock worth $107,424,000 after buying an additional 510,438 shares during the last quarter. Vanguard Group Inc. grew its position in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Finally, Deutsche Bank AG increased its holdings in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the company’s stock in a transaction dated 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 approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer now owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LHX shares. Truist Financial cut 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 report on Friday, April 25th. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a report on Monday, April 28th. The Goldman Sachs Group upgraded 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 report on Friday, April 11th. Citigroup lifted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

L3Harris Technologies Stock Up 0.3%

Shares of LHX stock opened at $249.56 on Friday. The company’s fifty day simple moving average is $231.54 and its two-hundred day simple moving average is $218.63. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a market cap of $46.66 billion, a P/E ratio of 29.60, a PEG ratio of 1.98 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.02 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 analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the company earned $3.06 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

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.