Avantra Family Wealth Inc. Boosts Stake in L3Harris Technologies Inc (NYSE:LHX)

Avantra Family Wealth Inc. increased its position in L3Harris Technologies Inc (NYSE:LHX) by 4.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,619 shares of the company’s stock after purchasing an additional 181 shares during the period. Avantra Family Wealth Inc.’s holdings in L3Harris Technologies were worth $967,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth about $27,000. Beacon Capital Management LLC lifted its position in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after buying an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now owns 25,325 shares of the company’s stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on 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 directly owns 145,572 shares in the company, valued at approximately $36,171,730.56. This trade 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 issued reports on LHX shares. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Truist Financial decreased their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

L3Harris Technologies Trading Up 0.3%

LHX opened at $249.56 on Friday. The stock has a market cap of $46.66 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 1.99 and a beta of 0.74. The stock’s 50 day moving average price is $231.54 and its 200-day moving average price is $218.48. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. L3Harris Technologies’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.92%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 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.