L3Harris Technologies Inc (NYSE:LHX) Stake Boosted by IFP Advisors Inc

IFP Advisors Inc raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 166.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,337 shares of the company's stock after acquiring an additional 5,209 shares during the period. IFP Advisors Inc's holdings in L3Harris Technologies were worth $1,747,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LHX. Oppenheimer Asset Management Inc. raised its stake in shares of L3Harris Technologies by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after buying an additional 216 shares in the last quarter. BankPlus Wealth Management LLC raised its stake in shares of L3Harris Technologies by 6.0% during 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 in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of L3Harris Technologies by 21.2% during 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 in the last quarter. Brighton Jones LLC raised its stake in shares of 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 buying an additional 3,001 shares in the last quarter. Finally, Capital Analysts LLC raised its stake in shares of L3Harris Technologies by 4.2% during 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 in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LHX shares. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Truist Financial raised their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird raised their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday. Citigroup reaffirmed a "buy" rating and issued a $300.00 price objective (up from $280.00) on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $275.18.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the business'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 sale, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

LHX stock traded down $3.39 during midday trading on Friday, reaching $269.83. The company had a trading volume of 1,187,725 shares, compared to its average volume of 1,459,737. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $250.37 and a 200 day moving average price of $225.17. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $280.03. The firm has a market capitalization of $50.44 billion, a PE ratio of 32.02, a P/E/G 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, beating analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $3.24 earnings per share. L3Harris Technologies's quarterly revenue was up 2.4% compared to the same quarter last year. Analysts anticipate 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. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.78%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

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.