Continuum Advisory LLC Acquires 107 Shares of L3Harris Technologies Inc (NYSE:LHX)

Continuum Advisory LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,304 shares of the company’s stock after acquiring an additional 107 shares during the period. Continuum Advisory LLC’s holdings in L3Harris Technologies were worth $273,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its stake in L3Harris Technologies by 21.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after acquiring an additional 1,236 shares in the last quarter. Principal Securities Inc. boosted its stake in L3Harris Technologies by 6.7% during the fourth quarter. Principal Securities Inc. now owns 882 shares of the company’s stock worth $185,000 after acquiring an additional 55 shares in the last quarter. LaFleur & Godfrey LLC boosted its stake in L3Harris Technologies by 58.3% during the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock worth $5,635,000 after acquiring an additional 9,873 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in L3Harris Technologies during the fourth quarter worth about $25,071,000. Finally, Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LHX shares. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. UBS Group lifted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Finally, Truist Financial decreased their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $258.75.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the sale, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now owns 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Down 1.7%

LHX opened at $246.82 on Wednesday. The firm’s 50 day simple moving average is $232.64 and its two-hundred day simple moving average is $218.66. The company has a market capitalization of $46.14 billion, a PE ratio of 29.28, a PEG ratio of 2.00 and a beta of 0.74. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.06 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

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.