Fragasso Financial Advisors Inc Has $4.49 Million Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Fragasso Financial Advisors Inc cut its position in L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,327 shares of the company’s stock after selling 1,752 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in L3Harris Technologies were worth $4,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the second quarter worth about $57,000. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of L3Harris Technologies by 95.8% during the second quarter. Meeder Advisory Services Inc. now owns 3,333 shares of the company’s stock worth $749,000 after buying an additional 1,631 shares during the last quarter. Zions Bancorporation N.A. grew its stake in shares of L3Harris Technologies by 11.1% in the second quarter. Zions Bancorporation N.A. now owns 1,768 shares of the company’s stock worth $397,000 after acquiring an additional 177 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its position in L3Harris Technologies by 11.6% during the second quarter. Wealthspire Advisors LLC now owns 1,621 shares of the company’s stock worth $364,000 after acquiring an additional 169 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $5.03 during trading hours on Monday, hitting $213.31. 481,106 shares of the company’s stock were exchanged, compared to its average volume of 1,181,801. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock’s 50-day moving average is $231.09 and its 200-day moving average is $233.37.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company posted $3.19 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LHX. Truist Financial upped their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.31.

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.