HB Wealth Management LLC Purchases 2,748 Shares of L3Harris Technologies Inc (NYSE:LHX)

Key Points

• HB Wealth Management LLC increased its holdings in L3Harris Technologies by 38.3%, acquiring an additional 2,748 shares, bringing its total to 9,928 shares valued at approximately $2,078,000.
• Different analysts have adjusted their price targets on L3Harris Technologies, with UBS raising its target from $262 to $280, while Susquehanna increased theirs from $300 to $320, highlighting a generally positive outlook.
• L3Harris recently announced a quarterly dividend of $1.20 per share, showcasing a payout ratio of 53.63% and an annualized yield of 1.76% for shareholders.

HB Wealth Management LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 38.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,928 shares of the company's stock after acquiring an additional 2,748 shares during the period. HB Wealth Management LLC's holdings in L3Harris Technologies were worth $2,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. increased its position in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after buying an additional 82 shares in the last quarter. Beacon Capital Management LLC increased its position in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after buying an additional 111 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth $37,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock worth $39,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on LHX shares. UBS Group lifted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday. Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research report on Friday. Robert W. Baird lifted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $2.58 during trading hours on Tuesday, hitting $272.05. The stock had a trading volume of 931,001 shares, compared to its average volume of 1,263,304. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The stock's 50-day moving average price is $251.91 and its two-hundred day moving average price is $226.31. The stock has a market capitalization of $50.90 billion, a price-to-earnings ratio of 30.40, a PEG 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the previous year, the firm posted $3.24 earnings per share. The business's revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business 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 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 Company 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.