Integral Investment Advisors Inc. Buys New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Integral Investment Advisors Inc. acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,227 shares of the company's stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in L3Harris Technologies by 24.3% in the 4th quarter. Empowered Funds LLC now owns 19,735 shares of the company's stock valued at $4,150,000 after acquiring an additional 3,852 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of L3Harris Technologies by 1,015.9% in the fourth quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock worth $2,781,000 after purchasing an additional 12,039 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its position in shares of L3Harris Technologies by 131.7% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 7,755 shares of the company's stock worth $1,631,000 after buying an additional 4,408 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in L3Harris Technologies by 21.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after buying an additional 1,236 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings in L3Harris Technologies by 6.7% during the 4th quarter. Principal Securities Inc. now owns 882 shares of the company's stock valued at $185,000 after buying an additional 55 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LHX has been the topic of several recent research reports. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, UBS Group increased their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $258.75.

L3Harris Technologies Trading Up 1.4%

LHX stock traded up $3.55 during trading on Thursday, hitting $250.22. The company had a trading volume of 1,335,178 shares, compared to its average volume of 1,472,402. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The company has a 50 day simple moving average of $225.81 and a 200-day simple moving average of $218.31. The firm has a market capitalization of $46.78 billion, a P/E ratio of 31.79, a PEG ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.06 earnings per share. As a group, research analysts forecast 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 Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.92%. L3Harris Technologies's dividend payout ratio is presently 56.94%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

About L3Harris Technologies

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.