HBK Sorce Advisory LLC Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

HBK Sorce Advisory LLC raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 10.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,326 shares of the company’s stock after purchasing an additional 221 shares during the period. HBK Sorce Advisory LLC’s holdings in L3Harris Technologies were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LHX. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Archer Investment Corp raised its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC raised its position in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays dropped their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $261.40.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,862 shares of company stock worth $2,155,054 in the last ninety days. 0.82% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $211.42 on Friday. The company has a market capitalization of $39.69 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm has a fifty day simple moving average of $209.26 and a 200-day simple moving average of $227.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.27%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is 60.99%.

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.