Parr Mcknight Wealth Management Group LLC Invests $3.25 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,440 shares of the company's stock, valued at approximately $3,247,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors grew its position in shares of L3Harris Technologies by 9.6% during the 4th quarter. Arkadios Wealth Advisors now owns 1,452 shares of the company's stock valued at $305,000 after acquiring an additional 127 shares during the period. Diversify Wealth Management LLC lifted its position in shares of L3Harris Technologies by 8.9% during the fourth quarter. Diversify Wealth Management LLC now owns 1,121 shares of the company's stock worth $233,000 after acquiring an additional 92 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of L3Harris Technologies by 6.5% in the fourth quarter. UMB Bank n.a. now owns 1,571 shares of the company's stock worth $330,000 after acquiring an additional 96 shares during the period. LaFleur & Godfrey LLC grew its position in shares of 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 purchasing an additional 9,873 shares in the last quarter. Finally, Pure Financial Advisors LLC raised its stake in shares of L3Harris Technologies by 5.4% during the 4th quarter. Pure Financial Advisors LLC now owns 1,483 shares of the company's stock valued at $312,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on LHX shares. Wells Fargo & Company cut their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. UBS Group raised their price objective 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. Jefferies Financial Group reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Morgan Stanley lowered 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 note on Tuesday, February 4th. Finally, Truist Financial cut their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $256.56.

Insiders Place Their Bets

In other news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company's stock, valued at approximately $632,122. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

L3Harris Technologies Stock Up 3.0%

Shares of NYSE:LHX opened at $239.52 on Friday. The firm has a market capitalization of $44.78 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. The firm has a fifty day moving average of $216.48 and a 200 day moving average of $219.16.

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

L3Harris Technologies Dividend Announcement

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 paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

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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