Viawealth LLC Takes Position in L3Harris Technologies Inc (NYSE:LHX)

Viawealth LLC purchased a new position in L3Harris Technologies Inc (NYSE:LHX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,734 shares of the company’s stock, valued at approximately $363,000.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Beacon Capital Management LLC grew its stake in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares in the last quarter. Park Square Financial Group LLC bought a new position in L3Harris Technologies in the 4th quarter worth about $37,000. Finally, Cornerstone Planning Group LLC grew its stake in L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the sale, the chief executive officer directly owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider owned 25,325 shares of the company’s stock, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $269.28 on Tuesday. The company has a market cap of $50.34 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.03. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $251.91 and a two-hundred day moving average of $226.31.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.24 EPS. As a group, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup increased their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday. Susquehanna increased their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird increased their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $276.53.

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.