Pathway Financial Advisers LLC Makes New Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Pathway Financial Advisers LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, Holdings Channel.com reports. The fund purchased 3,420 shares of the company’s stock, valued at approximately $729,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bfsg LLC acquired a new stake in L3Harris Technologies during the first quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $28,000. Blue Trust Inc. grew its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Finally, Sachetta LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $49,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $0.97 during trading on Friday, reaching $230.19. The stock had a trading volume of 1,080,734 shares, compared to its average volume of 1,004,621. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a market cap of $43.66 billion, a PE ratio of 37.37, a P/E/G ratio of 1.90 and a beta of 0.72. The firm’s 50 day moving average price is $226.57 and its two-hundred day moving average price is $216.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the business earned $2.97 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Activity at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of the business’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 transaction, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock worth $24,712,822 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LHX shares. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of L3Harris Technologies in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and increased their target price for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.50.

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.