Waverly Advisors LLC Raises Position in L3Harris Technologies, Inc. (NYSE:LHX)

Waverly Advisors LLC increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 114.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,868 shares of the company's stock after acquiring an additional 4,726 shares during the period. Waverly Advisors LLC's holdings in L3Harris Technologies were worth $1,865,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised 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 acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LHX shares. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Royal Bank of Canada restated a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Truist Financial lowered their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Citigroup cut 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. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average target price of $256.56.

L3Harris Technologies Stock Down 1.1%

Shares of LHX traded down $2.73 during trading hours on Wednesday, hitting $245.17. The company had a trading volume of 1,237,455 shares, compared to its average volume of 1,466,981. The firm has a fifty day moving average price of $218.24 and a 200-day moving average price of $218.60. The stock has a market capitalization of $45.83 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74. 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 (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.06 EPS. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.