Pines Wealth Management LLC Purchases New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Pines Wealth Management LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,198 shares of the company's stock, valued at approximately $240,000.

Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Jefferies Financial Group decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Citigroup reduced their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $244.31 on Friday. The firm has a market capitalization of $45.67 billion, a P/E ratio of 31.04, a PEG ratio of 2.42 and a beta of 0.72. The stock has a fifty day moving average price of $223.54 and a 200 day moving average price of $218.14. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating 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 business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.06 earnings per share. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.96%. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company's 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 sale, the insider now owns 2,797 shares of the company's stock, valued at $632,122. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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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