Cetera Investment Advisers Buys 23,231 Shares of L3Harris Technologies Inc (NYSE:LHX)

Cetera Investment Advisers increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,204 shares of the company's stock after purchasing an additional 23,231 shares during the quarter. Cetera Investment Advisers' holdings in L3Harris Technologies were worth $18,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the period. Beacon Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares during the period. Park Square Financial Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at $37,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after buying an additional 139 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group lifted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday. Susquehanna lifted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $279.47.

L3Harris Technologies Trading Up 1.0%

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

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.24 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Activity

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their position. The transaction 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 L3Harris Technologies stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 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.