Integral Investment Advisors Inc. Acquires New Shares in L3Harris Technologies, Inc. (NYSE:LHX)

Integral Investment Advisors Inc. bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 1st quarter, Holdings Channel.com reports. The fund bought 1,227 shares of the company’s stock, valued at approximately $257,000.

A number of other large investors have also added to or reduced their stakes in LHX. Belpointe Asset Management LLC boosted its holdings in L3Harris Technologies by 0.7% in the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company’s stock worth $1,476,000 after acquiring an additional 52 shares during the period. Klingman & Associates LLC boosted its position in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after purchasing an additional 53 shares during the period. CWC Advisors LLC. increased its stake in shares of L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company’s stock valued at $546,000 after purchasing an additional 53 shares during the period. Zullo Investment Group Inc. raised its stake in shares of L3Harris Technologies by 3.2% during the fourth quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock valued at $361,000 after purchasing an additional 54 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in L3Harris Technologies by 0.6% in the fourth quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company’s stock worth $1,873,000 after purchasing an additional 54 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup upped their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, UBS Group raised their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $258.75.

L3Harris Technologies Trading Up 0.6%

LHX opened at $245.67 on Tuesday. The company has a fifty day moving average of $224.21 and a 200-day moving average of $217.92. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $45.93 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the business earned $3.06 EPS. L3Harris Technologies’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.95%. L3Harris Technologies’s dividend payout ratio is currently 56.94%.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider now directly owns 25,325 shares of the company’s stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

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.