Avantax Advisory Services Inc. Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Avantax Advisory Services Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,037 shares of the company’s stock after acquiring an additional 576 shares during the period. Avantax Advisory Services Inc.’s holdings in L3Harris Technologies were worth $3,793,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies during the third quarter worth approximately $841,000. Czech National Bank grew its position in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after acquiring an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after purchasing an additional 178,407 shares during the period. Principal Financial Group Inc. increased its stake in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after buying an additional 4,321 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after buying an additional 3,740 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,862 shares of company stock valued at $2,155,054. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LHX shares. UBS Group boosted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Barclays decreased their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $211.42 on Friday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $209.26 and its 200 day simple moving average is $227.02. The firm has a market capitalization of $39.69 billion, a PE ratio of 26.86, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

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

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.