Avantax Advisory Services Inc. Purchases 1,419 Shares of L3Harris Technologies Inc (NYSE:LHX)

Avantax Advisory Services Inc. grew its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,456 shares of the company's stock after acquiring an additional 1,419 shares during the period. Avantax Advisory Services Inc.'s holdings in L3Harris Technologies were worth $4,072,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LHX. Invesco Ltd. grew its stake in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after acquiring an additional 522,861 shares in the last quarter. GAMMA Investing LLC grew its stake in L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after acquiring an additional 510,438 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after acquiring an additional 311,886 shares in the last quarter. Deutsche Bank AG grew its stake in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after acquiring an additional 289,514 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in L3Harris Technologies during the fourth quarter valued at $53,011,000. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. Barclays raised their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research note on Tuesday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Citigroup lifted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday. Susquehanna lifted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday. Finally, Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $279.47.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the insider directly owned 25,325 shares in the company, valued at approximately $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. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Up 1.0%

Shares of LHX stock traded up $2.58 during trading hours on Tuesday, reaching $272.05. 931,001 shares of the stock were exchanged, compared to its average volume of 1,263,304. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.03. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $251.91 and its 200-day moving average price is $226.31. The firm has a market capitalization of $50.90 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.24 EPS. As a group, equities analysts anticipate 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 will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.76%. L3Harris Technologies's payout ratio is currently 53.63%.

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.