FSM Wealth Advisors LLC Buys Shares of 1,177 L3Harris Technologies Inc $LHX

FSM Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,177 shares of the company’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC acquired a new position in L3Harris Technologies during the 1st quarter worth about $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the first quarter worth about $26,000. Kiker Wealth Management LLC lifted its position in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 63 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of L3Harris Technologies in the second quarter valued at approximately $32,000. Finally, Independence Bank of Kentucky boosted its stake in shares of L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Up 1.5%

L3Harris Technologies stock opened at $293.37 on Friday. The stock has a market cap of $54.89 billion, a PE ratio of 32.78, a P/E/G ratio of 2.11 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The stock’s fifty day moving average is $284.90 and its two-hundred day moving average is $257.77. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is 53.63%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Robert W. Baird increased their target price 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Truist Financial lifted their target price on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. UBS Group upped their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Finally, Susquehanna lifted their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $287.63.

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.