Advisor Resource Council Purchases New Holdings in L3Harris Technologies Inc (NYSE:LHX)

Advisor Resource Council bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,287 shares of the company's stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LHX. D. E. Shaw & Co. Inc. lifted its stake in L3Harris Technologies by 21.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after purchasing an additional 1,236 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of L3Harris Technologies by 6.7% in the 4th quarter. Principal Securities Inc. now owns 882 shares of the company's stock valued at $185,000 after acquiring an additional 55 shares during the last quarter. LaFleur & Godfrey LLC lifted its stake in shares of L3Harris Technologies by 58.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock valued at $5,635,000 after acquiring an additional 9,873 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in L3Harris Technologies during the 4th quarter worth $25,071,000. Finally, Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Up 0.3%

NYSE LHX traded up $0.72 on Friday, hitting $247.52. 2,126,957 shares of the company were exchanged, compared to its average volume of 1,153,387. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The company has a market cap of $46.27 billion, a PE ratio of 29.36, a PEG ratio of 1.98 and a beta of 0.74. The stock has a fifty day moving average of $233.80 and a 200-day moving average of $218.98. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the firm earned $3.06 EPS. The business's revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. Truist Financial cut their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup increased their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. 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 price target of $258.75.

Insider Activity

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% 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 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.