L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,220 shares of the company’s stock after buying an additional 2,646 shares during the period. Kestra Private Wealth Services LLC’s holdings in L3Harris Technologies were worth $6,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ledyard National Bank purchased a new position in L3Harris Technologies in the 4th quarter worth $246,000. Adell Harriman & Carpenter Inc. boosted its position in L3Harris Technologies by 13.5% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 2,776 shares of the company’s stock valued at $585,000 after buying an additional 331 shares during the last quarter. Intrust Bank NA increased its holdings in L3Harris Technologies by 14.5% in the 4th quarter. Intrust Bank NA now owns 4,009 shares of the company’s stock worth $844,000 after buying an additional 507 shares during the period. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in L3Harris Technologies in the 4th quarter worth approximately $201,000. Finally, Blue Chip Partners LLC raised its position in L3Harris Technologies by 18.8% during the 4th quarter. Blue Chip Partners LLC now owns 757 shares of the company’s stock worth $160,000 after buying an additional 120 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LHX shares. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Barclays increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a report on Thursday, January 11th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.88.

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

LHX traded down $1.53 during midday trading on Tuesday, hitting $215.53. 250,356 shares of the company traded hands, compared to its average volume of 1,117,995. The business has a 50 day simple moving average of $210.26 and a two-hundred day simple moving average of $201.92. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $218.34. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.99 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the business earned $2.86 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

L3Harris Technologies 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.