Third View Private Wealth LLC Acquires Shares of 10,166 L3Harris Technologies Inc $LHX

Third View Private Wealth LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the fourth quarter, Holdings Channel reports. The firm acquired 10,166 shares of the company’s stock, valued at approximately $2,984,000.

Other institutional investors also recently added to or reduced their stakes in the company. Caitlin John LLC bought a new position in shares of L3Harris Technologies in the third quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new position in shares of L3Harris Technologies in the third quarter valued at approximately $29,000. American National Bank & Trust raised its stake in shares of L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Triumph Capital Management bought a new position in shares of L3Harris Technologies in the third quarter valued at approximately $31,000. Finally, GGM Financials LLC bought a new position in shares of L3Harris Technologies in the third quarter valued at approximately $32,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LHX. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Argus raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.55.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 751 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the sale, the vice president owned 4,131 shares in the company, valued at approximately $1,529,791.92. The trade was a 15.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. The trade was a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 19,025 shares of company stock worth $6,824,370. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock opened at $357.95 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company has a 50 day moving average price of $354.90 and a 200 day moving average price of $320.31. L3Harris Technologies Inc has a fifty-two week low of $208.11 and a fifty-two week high of $379.23. The stock has a market capitalization of $66.86 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 1.79 and a beta of 0.62.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the company posted $3.47 EPS. L3Harris Technologies’s revenue was up 2.3% on a year-over-year basis. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.