Advisory Alpha LLC Grows Stake in L3Harris Technologies Inc $LHX

Advisory Alpha LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,160 shares of the company’s stock after purchasing an additional 134 shares during the quarter. Advisory Alpha LLC’s holdings in L3Harris Technologies were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Cyndeo Wealth Partners LLC raised its holdings in L3Harris Technologies by 2.7% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after purchasing an additional 37 shares during the period. Independence Bank of Kentucky raised its holdings in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares during the period. DB Fitzpatrick & Co Inc raised its holdings in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after purchasing an additional 42 shares during the period. Riverbend Wealth Management LLC raised its holdings in L3Harris Technologies by 4.3% in the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock worth $258,000 after purchasing an additional 42 shares during the period. Finally, Klingman & Associates LLC raised its holdings in L3Harris Technologies by 2.2% in the 2nd quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock worth $498,000 after purchasing an additional 42 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction dated 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 sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $286.98 on Thursday. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. 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 business’s 50-day simple moving average is $286.25 and its two-hundred day simple moving average is $260.62. The stock has a market cap of $53.69 billion, a PE ratio of 32.07, a P/E/G ratio of 2.10 and a beta of 0.76.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is 53.63%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LHX. Barclays raised their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Citigroup raised their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Susquehanna raised their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.63.

L3Harris Technologies 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.