L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,363 shares of the company’s stock after acquiring an additional 49 shares during the period. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $1,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LHX. Acadian Asset Management LLC raised its stake in L3Harris Technologies by 283.0% in the first quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock valued at $272,000 after buying an additional 815 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in L3Harris Technologies in the first quarter valued at $8,013,000. Sei Investments Co. increased its position in shares of L3Harris Technologies by 14.2% during the first quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock worth $15,643,000 after purchasing an additional 7,773 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of L3Harris Technologies by 18.9% during the first quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock worth $838,000 after purchasing an additional 537 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of L3Harris Technologies by 16.7% during the first quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock worth $306,000 after purchasing an additional 176 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

LHX stock opened at $212.97 on Friday. The firm has a 50 day moving average of $210.91 and a 200-day moving average of $196.10. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market cap of $40.49 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 1.97 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $3.27 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.16 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s payout ratio is currently 72.05%.

Analyst Ratings Changes

LHX has been the topic of a number of research analyst reports. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Royal Bank of Canada raised their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $229.00.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last ninety days. Insiders own 0.82% of the company’s stock.

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.