971 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Balanced Wealth Group LLC

Balanced Wealth Group LLC purchased a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 971 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds also recently modified their holdings of the business. KB Financial Partners LLC boosted 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 last quarter. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies during the third quarter worth $35,000. Blue Trust Inc. lifted its position in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. boosted its position in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in L3Harris Technologies during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In related news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were 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 directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several analyst reports. Barclays increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada boosted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. UBS Group raised their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 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. Finally, Citigroup increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Trading Down 0.0 %

Shares of LHX traded down $0.10 during trading hours on Wednesday, reaching $215.81. 994,013 shares of the company traded hands, compared to its average volume of 1,114,664. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average price is $210.32 and its two-hundred day moving average price is $203.41. The company has a market capitalization of $40.93 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend 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.