JGP Wealth Management LLC Boosts Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

JGP Wealth Management LLC grew its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,562 shares of the company’s stock after buying an additional 259 shares during the quarter. JGP Wealth Management LLC’s holdings in L3Harris Technologies were worth $9,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in L3Harris Technologies during the second quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in L3Harris Technologies during the first quarter valued at approximately $27,000. First Capital Advisors Group LLC. bought a new position in L3Harris Technologies during the second quarter valued at approximately $29,000. Mascoma Wealth Management LLC bought a new position in L3Harris Technologies during the third quarter valued at approximately $27,000. Finally, KB Financial Partners LLC lifted its position in L3Harris Technologies by 96.5% during the third 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. Hedge funds and other institutional investors own 81.33% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,362 shares of company stock worth $1,772,560. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LHX shares. StockNews.com downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Truist Financial raised their price objective on shares of L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, TheStreet upgraded shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded down $1.93 during trading hours on Monday, reaching $210.93. The company’s stock had a trading volume of 1,438,372 shares, compared to its average volume of 1,138,295. The firm has a 50 day moving average price of $209.93 and a 200-day moving average price of $194.31. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The stock has a market cap of $40.10 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.98 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.27 EPS. On average, analysts predict that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.20%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date is Thursday, March 7th. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

About L3Harris Technologies

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.