TCG Advisory Services LLC Makes New $268,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

TCG Advisory Services LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,273 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors have also made changes to their positions in the company. KB Financial Partners LLC grew its stake in shares of L3Harris Technologies by 96.5% in 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 during the period. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies in the 3rd quarter worth approximately $35,000. Blue Trust Inc. raised its holdings in 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 last quarter. Washington Trust Advisors Inc. boosted its holdings in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $46,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LHX shares. Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Royal Bank of Canada raised their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.33.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated 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 transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX traded up $1.69 during mid-day trading on Monday, reaching $213.93. 105,798 shares of the company’s stock traded hands, compared to its average volume of 1,109,817. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The business’s 50-day moving average price is $210.18 and its 200-day moving average price is $202.87. The stock has a market capitalization of $40.58 billion, a P/E ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the company earned $2.86 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts predict that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.17%. L3Harris Technologies’s payout ratio is currently 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.