PDS Planning Inc Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

PDS Planning Inc bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,115 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors also recently bought and sold shares of LHX. KB Financial Partners LLC raised its position in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $35,000. Blue Trust Inc. raised its position in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the period. Washington Trust Advisors Inc. raised its position in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $46,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a research report on Thursday, January 11th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday. Citigroup raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. UBS Group raised their target price 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, Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $229.60.

L3Harris Technologies Stock Down 0.2 %

NYSE LHX opened at $207.62 on Wednesday. The firm has a market cap of $39.47 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The stock’s 50 day simple moving average is $210.23 and its 200 day simple moving average is $200.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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 company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.27 EPS. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is currently 72.05%.

Insider Buying and Selling

In other L3Harris Technologies news, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by company insiders.

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.