Park Avenue Securities LLC Buys 1,359 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Park Avenue Securities LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 24.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,919 shares of the company's stock after buying an additional 1,359 shares during the quarter. Park Avenue Securities LLC's holdings in L3Harris Technologies were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LHX. Wedmont Private Capital boosted its position in L3Harris Technologies by 9.8% during the first quarter. Wedmont Private Capital now owns 1,109 shares of the company's stock worth $246,000 after purchasing an additional 99 shares during the period. WealthBridge Investment Counsel Inc. boosted its stake in L3Harris Technologies by 1.9% in the first quarter. WealthBridge Investment Counsel Inc. now owns 26,028 shares of the company's stock worth $5,448,000 after purchasing an additional 485 shares in the last quarter. Elk River Wealth Management LLC raised its stake in shares of L3Harris Technologies by 600.8% in the first quarter. Elk River Wealth Management LLC now owns 31,123 shares of the company's stock worth $6,514,000 after acquiring an additional 26,682 shares during the last quarter. Pines Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the first quarter worth $240,000. Finally, Retireful LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $332,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on LHX shares. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group increased their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Truist Financial cut their target price 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. Finally, 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. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $258.75.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $3.55 during mid-day trading on Thursday, reaching $250.22. The company had a trading volume of 1,335,459 shares, compared to its average volume of 1,112,475. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The business has a fifty day simple moving average of $225.81 and a 200 day simple moving average of $218.31. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market cap of $46.78 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued 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 yield of 1.92%. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Buying and Selling at L3Harris Technologies

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

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.