L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Evermay Wealth Management LLC

Evermay Wealth Management LLC increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 38.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 971 shares of the company’s stock after buying an additional 268 shares during the period. Evermay Wealth Management LLC’s holdings in L3Harris Technologies were worth $207,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Strong Tower Advisory Services increased its position in L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after buying an additional 49 shares during the period. Oak Harbor Wealth Partners LLC increased its holdings in shares of L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after acquiring an additional 49 shares during the period. Blossom Wealth Management lifted its position in L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in L3Harris Technologies by 12.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after purchasing an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX traded up $5.97 during trading hours on Thursday, reaching $243.12. 1,631,777 shares of the company’s stock were exchanged, compared to its average volume of 986,273. The company has a market capitalization of $46.12 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $245.60. The business’s 50-day simple moving average is $226.09 and its two-hundred day simple moving average is $215.80. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $2.86 EPS. Sell-side analysts expect that L3Harris Technologies, Inc. will post 12.99 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $1.16 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LHX. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. Royal Bank of Canada raised their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Barclays upped their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

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.