AssuredPartners Investment Advisors LLC Buys 1,216 Shares of L3Harris Technologies Inc (NYSE:LHX)

AssuredPartners Investment Advisors LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,945 shares of the company's stock after acquiring an additional 1,216 shares during the quarter. AssuredPartners Investment Advisors LLC's holdings in L3Harris Technologies were worth $3,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Geode Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after purchasing an additional 53,787 shares in the last quarter. FMR LLC lifted its holdings in shares of L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Invesco Ltd. boosted its position in shares of L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at $398,507,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the transaction, the chief executive officer now owns 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LHX shares. Citigroup lifted their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Truist Financial reduced their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. 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 note on Monday, March 31st. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.75.

L3Harris Technologies Stock Up 0.3%

L3Harris Technologies stock traded up $0.72 during mid-day trading on Friday, reaching $247.52. The company's stock had a trading volume of 2,158,843 shares, compared to its average volume of 1,154,827. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74. The business's 50 day simple moving average is $233.80 and its 200 day simple moving average is $218.98. The company has a market capitalization of $46.27 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping 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 net margin of 7.55% and a return on equity of 12.38%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.06 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were issued a $1.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.94%. L3Harris Technologies's dividend payout ratio is currently 56.94%.

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.