Sowell Financial Services LLC Invests $216,000 in L3Harris Technologies Inc (NYSE:LHX)

Sowell Financial Services LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,034 shares of the company's stock, valued at approximately $216,000.

A number of other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in L3Harris Technologies in the fourth quarter worth $398,507,000. Invesco Ltd. raised its stake in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. GAMMA Investing LLC boosted its holdings in shares of L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after buying an additional 510,438 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 401,168 shares during the last quarter. Finally, Deutsche Bank AG grew its position in L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after buying an additional 289,514 shares during the period. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Citigroup lifted their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report 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 report on Friday, April 25th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped their price target 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. 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, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $258.75.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer now owns 145,572 shares in the company, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $249.56 on Monday. The stock has a market cap of $46.66 billion, a P/E ratio of 29.60, a PEG ratio of 1.99 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The business's 50-day moving average price is $231.54 and its two-hundred day moving average price is $218.34. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74.

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 analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm's revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.06 earnings per share. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is currently 56.94%.

L3Harris Technologies Company 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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