Foundations Investment Advisors LLC Has $451,000 Stock Holdings in L3Harris Technologies Inc (NYSE:LHX)

Foundations Investment Advisors LLC lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,155 shares of the company’s stock after purchasing an additional 71 shares during the period. Foundations Investment Advisors LLC’s holdings in L3Harris Technologies were worth $451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. raised its position in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after buying an additional 522,861 shares during the period. GAMMA Investing LLC raised its position in L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after buying an additional 510,438 shares during the period. Allspring Global Investments Holdings LLC raised its position in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after buying an additional 311,886 shares during the period. Deutsche Bank AG raised its position in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in L3Harris Technologies during the fourth quarter valued at $53,011,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

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 transaction of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total value of $19,522,080.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $39,472,018.92. The trade was a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,061 shares of company stock valued at $28,227,077. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LHX shares. UBS Group upped their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

L3Harris Technologies Stock Performance

LHX opened at $278.19 on Friday. The company has a market cap of $52.05 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.01 and a beta of 0.77. The stock has a 50-day moving average of $255.07 and a 200-day moving average of $227.81. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $280.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

L3Harris Technologies Company 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.