Stonebrook Private Inc. Takes $517,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Stonebrook Private Inc. purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,452 shares of the company’s stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strong Tower Advisory Services increased its stake in shares of L3Harris Technologies by 0.9% in the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after acquiring an additional 49 shares during the last quarter. Blossom Wealth Management increased its stake in L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its stake in L3Harris Technologies by 3.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after purchasing an additional 59 shares in the last quarter. Finally, Sky Investment Group LLC increased its stake in L3Harris Technologies by 4.2% during the 3rd quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after purchasing an additional 60 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 3.5 %

NYSE LHX opened at $214.54 on Monday. The company has a market cap of $40.79 billion, a PE ratio of 34.83, a PEG ratio of 1.99 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The stock has a 50 day moving average of $210.16 and a 200-day moving average of $201.62.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the prior year, the firm posted $2.86 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is 75.32%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LHX shares. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada increased their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. UBS Group increased their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.60.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 116,175 shares of the company’s stock, 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, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 116,175 shares of the company’s stock, 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. Also, insider Edward J. Zoiss sold 3,707 shares of the 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 transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last quarter. 0.87% of the stock is currently owned by 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.