Independent Advisor Alliance Acquires 50 Shares of L3Harris Technologies Inc (NYSE:LHX)

Independent Advisor Alliance increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,602 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Independent Advisor Alliance’s holdings in L3Harris Technologies were worth $4,940,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LHX. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies during the first quarter valued at about $26,000. Beacon Capital Management LLC grew its position in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares during the period. Park Square Financial Group LLC bought a new position in L3Harris Technologies during the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC raised its holdings in L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $269.69 on Monday. The stock has a 50-day simple moving average of $258.25 and a 200 day simple moving average of $229.92. The stock has a market capitalization of $50.46 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 1.97 and a beta of 0.77. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $280.52.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the company posted $3.24 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup lifted their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Robert W. Baird raised their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. UBS Group upped their target price on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Barclays increased their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $279.47.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $39,472,018.92. This trade represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider directly owned 25,325 shares of the company’s stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,061 shares of company stock worth $28,227,077 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.