Cornerstone Select Advisors LLC Acquires Shares of 5,205 L3Harris Technologies, Inc. (NYSE:LHX)

Cornerstone Select Advisors LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,205 shares of the company's stock, valued at approximately $1,095,000.

Other institutional investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC lifted its holdings in shares of L3Harris Technologies by 5.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after purchasing an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of L3Harris Technologies by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after buying an additional 51 shares during the period. Belpointe Asset Management LLC boosted its stake in shares of L3Harris Technologies by 0.7% in the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock worth $1,476,000 after buying an additional 52 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock worth $514,000 after acquiring an additional 53 shares during the period. Finally, Klingman & Associates LLC lifted its holdings in L3Harris Technologies by 2.8% in the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock valued at $406,000 after acquiring an additional 53 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Up 0.3 %

Shares of L3Harris Technologies stock traded up $0.76 during trading on Friday, hitting $219.15. The stock had a trading volume of 983,125 shares, compared to its average volume of 1,025,339. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm's fifty day simple moving average is $213.93 and its 200-day simple moving average is $220.19. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The stock has a market cap of $40.97 billion, a PE ratio of 27.85, a PEG ratio of 2.42 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter last year, the business posted $3.06 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.19%. L3Harris Technologies's payout ratio is presently 56.94%.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on LHX shares. Citigroup reduced their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies 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.