Capital Investment Advisors LLC Grows Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Capital Investment Advisors LLC increased its stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,352 shares of the company's stock after buying an additional 1,141 shares during the quarter. Capital Investment Advisors LLC's holdings in L3Harris Technologies were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. PFW Advisors LLC grew its position in L3Harris Technologies by 1.3% in the 1st quarter. PFW Advisors LLC now owns 4,440 shares of the company's stock valued at $929,000 after acquiring an additional 55 shares during the last quarter. Meridian Financial Partners LLC lifted its holdings in L3Harris Technologies by 1.3% during the 1st quarter. Meridian Financial Partners LLC now owns 5,815 shares of the company's stock valued at $1,217,000 after buying an additional 72 shares in the last quarter. Park Avenue Securities LLC boosted its position in L3Harris Technologies by 24.4% in the 1st quarter. Park Avenue Securities LLC now owns 6,919 shares of the company's stock valued at $1,448,000 after buying an additional 1,359 shares during the period. Wedmont Private Capital grew its stake in L3Harris Technologies by 9.8% in the 1st quarter. Wedmont Private Capital now owns 1,109 shares of the company's stock worth $246,000 after acquiring an additional 99 shares in the last quarter. Finally, WealthBridge Investment Counsel Inc. increased its position in shares of L3Harris Technologies by 1.9% during the first quarter. WealthBridge Investment Counsel Inc. now owns 26,028 shares of the company's stock worth $5,448,000 after acquiring an additional 485 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LHX. Truist Financial lowered their price target on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup increased their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday. Finally, Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.75.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the 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 now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $2.05 during trading hours on Thursday, hitting $248.72. 688,947 shares of the company were exchanged, compared to its average volume of 1,466,240. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.42 and a beta of 0.74. The company's 50 day moving average price is $225.81 and its 200-day moving average price is $218.31.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company 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 year.

L3Harris Technologies Dividend Announcement

The company 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 $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

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.