Guyasuta Investment Advisors Inc. Sells 1,221 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Guyasuta Investment Advisors Inc. decreased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,513 shares of the company’s stock after selling 1,221 shares during the quarter. L3Harris Technologies accounts for approximately 3.0% of Guyasuta Investment Advisors Inc.’s holdings, making the stock its 10th biggest position. Guyasuta Investment Advisors Inc. owned approximately 0.10% of L3Harris Technologies worth $41,179,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 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 purchasing an additional 49 shares during the last quarter. Blossom Wealth Management increased its stake in shares of L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust grew its position 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 acquiring an additional 58 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its position 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 acquiring an additional 59 shares during the last quarter. Finally, Sky Investment Group LLC grew its position 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 acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a report on Thursday, January 11th. 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 report on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday, April 22nd. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Finally, StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $229.93.

L3Harris Technologies Trading Up 1.3 %

Shares of NYSE:LHX traded up $2.75 on Monday, reaching $217.29. 432,775 shares of the company traded hands, compared to its average volume of 1,117,183. The business’s 50-day simple moving average is $210.16 and its 200 day simple moving average is $201.62. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The stock has a market capitalization of $41.31 billion, a P/E ratio of 34.96, a price-to-earnings-growth 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 (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $2.86 earnings per share. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.14%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insiders Place Their Bets

In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last three months. Company insiders own 0.87% 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.