FSM Wealth Advisors LLC Acquires Shares of 1,177 L3Harris Technologies Inc $LHX

FSM Wealth Advisors LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,177 shares of the company’s stock, valued at approximately $302,000.

A number of other large investors have also recently made changes to their positions in LHX. Kiker Wealth Management LLC grew its stake in L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Harbor Asset Planning Inc. purchased a new position in shares of L3Harris Technologies during the second quarter worth approximately $32,000. Finally, Independence Bank of Kentucky grew its position in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX opened at $293.37 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The stock’s 50 day moving average is $284.90 and its two-hundred day moving average is $257.77. The firm has a market capitalization of $54.89 billion, a PE ratio of 32.78, a P/E/G ratio of 2.11 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

Wall Street Analyst Weigh In

LHX has been the subject of several research reports. Truist Financial upped their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Susquehanna increased their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Citigroup raised their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $287.63.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last three months. 0.72% of the stock is currently owned by company insiders.

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.