Diversify Advisory Services LLC Takes $793,000 Position in L3Harris Technologies Inc (NYSE:LHX)

Diversify Advisory Services LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,586 shares of the company's stock, valued at approximately $793,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after purchasing an additional 216 shares during the last quarter. BankPlus Wealth Management LLC increased its position in L3Harris Technologies by 6.0% in the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock worth $432,000 after buying an additional 117 shares during the period. D. E. Shaw & Co. Inc. increased its position 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 worth $1,488,000 after buying an additional 1,236 shares during the period. Brighton Jones LLC increased its position in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the period. Finally, Capital Analysts LLC increased its position in L3Harris Technologies by 4.2% in the 4th quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock worth $9,360,000 after buying an additional 1,808 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

NYSE:LHX traded down $0.80 during trading hours on Friday, reaching $264.71. The company had a trading volume of 1,441,835 shares, compared to its average volume of 1,166,758. The stock has a 50-day moving average of $246.64 and a two-hundred day moving average of $223.62. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $267.57. The firm has a market capitalization of $49.49 billion, a PE ratio of 31.40, a PEG ratio of 2.06 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 12.38% and a net margin of 7.55%. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The business's revenue was down 1.5% compared to the same quarter last year. Analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 56.94%.

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. Truist Financial lifted their price target on L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Sunday. Susquehanna set a $300.00 price target on L3Harris Technologies and gave the stock a "positive" rating in a research report on Monday, July 14th. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.81.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.