Axxcess Wealth Management LLC Has $3.13 Million Holdings in L3Harris Technologies Inc $LHX

Axxcess Wealth Management LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 19.6% in the 3rd quarter, Holdings Channel reports. The fund owned 10,239 shares of the company’s stock after buying an additional 1,678 shares during the period. Axxcess Wealth Management LLC’s holdings in L3Harris Technologies were worth $3,127,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies during the second quarter valued at $34,000. Salomon & Ludwin LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth about $34,000. Rakuten Securities Inc. boosted its position in L3Harris Technologies by 234.8% during the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after acquiring an additional 108 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in L3Harris Technologies during the 3rd quarter valued at about $42,000. Finally, Copia Wealth Management grew its stake in L3Harris Technologies by 1,842.9% during the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after acquiring an additional 129 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the sale, the insider owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $352.50 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The firm has a market cap of $65.84 billion, a PE ratio of 41.32, a PEG ratio of 2.50 and a beta of 0.64. The firm’s 50 day moving average price is $325.67 and its 200 day moving average price is $298.47. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $369.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.47 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.27%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LHX shares. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. lifted their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.