Northstar Financial Companies Inc. Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Northstar Financial Companies Inc. acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,957 shares of the company's stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. LaFleur & Godfrey LLC grew its position in L3Harris Technologies by 58.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock valued at $5,635,000 after acquiring an additional 9,873 shares during the period. Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in L3Harris Technologies by 5.1% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 1,397 shares of the company's stock valued at $294,000 after buying an additional 68 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of L3Harris Technologies by 56.9% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,414 shares of the company's stock worth $297,000 after acquiring an additional 513 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in shares of L3Harris Technologies by 18.4% during the fourth quarter. PFG Investments LLC now owns 1,439 shares of the company's stock valued at $303,000 after acquiring an additional 224 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,961 shares of company stock valued at $1,585,297 over the last quarter. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Price Performance

LHX stock traded up $1.01 during midday trading on Friday, reaching $244.43. 2,784,686 shares of the stock were exchanged, compared to its average volume of 1,099,669. 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 company has a fifty day moving average price of $219.62 and a 200 day moving average price of $218.64. The stock has a market capitalization of $45.70 billion, a PE ratio of 31.06, a P/E/G ratio of 2.42 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies's payout ratio is currently 56.94%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

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.