Janney Montgomery Scott LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Janney Montgomery Scott LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,362 shares of the company's stock after buying an additional 1,488 shares during the period. Janney Montgomery Scott LLC owned approximately 0.09% of L3Harris Technologies worth $33,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LHX. Columbus Macro LLC grew its position in L3Harris Technologies by 32.3% in the first quarter. Columbus Macro LLC now owns 23,298 shares of the company's stock worth $4,876,000 after acquiring an additional 5,689 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its stake in L3Harris Technologies by 38.3% during the first quarter. Cyndeo Wealth Partners LLC now owns 1,359 shares of the company's stock worth $284,000 after purchasing an additional 376 shares during the last quarter. Good Life Advisors LLC boosted its holdings in shares of L3Harris Technologies by 3.6% in the 1st quarter. Good Life Advisors LLC now owns 8,875 shares of the company's stock worth $1,858,000 after purchasing an additional 307 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of L3Harris Technologies by 7.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,181 shares of the company's stock valued at $875,000 after purchasing an additional 305 shares during the last quarter. Finally, Factory Mutual Insurance Co. raised its holdings in shares of L3Harris Technologies by 25.4% during the 1st quarter. Factory Mutual Insurance Co. now owns 91,700 shares of the company's stock valued at $19,194,000 after buying an additional 18,600 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group increased their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Citigroup increased their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a report on Monday, June 9th. Truist Financial lowered their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price objective for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Jefferies Financial Group decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Trading Down 3.7%

LHX opened at $247.52 on Tuesday. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business has a 50 day simple moving average of $228.89 and a two-hundred day simple moving average of $218.09. The firm has a market capitalization of $46.27 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.06 earnings per share. Analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.94%. L3Harris Technologies's dividend payout ratio is 56.94%.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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.

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