Tyche Wealth Partners LLC Makes New $454,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Tyche Wealth Partners LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,157 shares of the company’s stock, valued at approximately $454,000.

Other large investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in L3Harris Technologies in the second quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of L3Harris Technologies during the first quarter worth approximately $27,000. First Capital Advisors Group LLC. bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $29,000. Mascoma Wealth Management LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at $27,000. Finally, KB Financial Partners LLC increased its stake in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. UBS Group increased their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Raymond James lifted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

LHX traded down $2.88 during trading on Wednesday, hitting $200.34. 915,221 shares of the company traded hands, compared to its average volume of 1,069,702. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The stock’s fifty day moving average is $210.70 and its 200 day moving average is $199.57. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market cap of $38.09 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 1.89 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 EPS. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a dividend yield of 2.32%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

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.