Strata Wealth Advisors LLC Takes Position in L3Harris Technologies Inc $LHX

Key Points

• Strata Wealth Advisors LLC has acquired a new position in L3Harris Technologies Inc, purchasing 963 shares valued at approximately $242,000 during the second quarter.
• L3Harris Technologies reported a Q2 EPS of $2.78, surpassing the consensus estimate of $2.48, with a revenue of $5.43 billion which represents a 2.4% increase from the previous year.
• The company has announced a quarterly dividend of $1.20 per share, representing an annualized yield of 1.6%, scheduled for payment on December 5th.

Strata Wealth Advisors LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 963 shares of the company's stock, valued at approximately $242,000.

A number of other large investors also recently added to or reduced their stakes in LHX. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $26,000. Kiker Wealth Management LLC boosted its stake in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in L3Harris Technologies during the second quarter worth about $32,000. Finally, Independence Bank of Kentucky boosted its stake in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock worth $33,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX traded up $4.69 during mid-day trading on Thursday, reaching $293.66. The stock had a trading volume of 24,672 shares, compared to its average volume of 1,341,282. The firm has a market cap of $54.94 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.13 and a beta of 0.76. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The business has a fifty day moving average of $284.46 and a 200 day moving average of $257.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the business earned $3.24 earnings per share. L3Harris Technologies's quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies's dividend payout ratio (DPR) is currently 53.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LHX shares. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna boosted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Truist Financial upped their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Citigroup upped their target price on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, UBS Group upped their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $287.63.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company's stock.

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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