Iams Wealth Management LLC Has $1.77 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Iams Wealth Management LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,312 shares of the company’s stock after buying an additional 64 shares during the quarter. L3Harris Technologies makes up approximately 1.1% of Iams Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Iams Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in L3Harris Technologies by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,108,596 shares of the company’s stock worth $449,342,000 after buying an additional 66,770 shares during the period. Oak Thistle LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $761,000. BKM Wealth Management LLC lifted its stake in shares of L3Harris Technologies by 12.4% in the 1st quarter. BKM Wealth Management LLC now owns 5,863 shares of the company’s stock valued at $1,249,000 after purchasing an additional 649 shares during the period. Successful Portfolios LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $210,000. Finally, Cornerstone Wealth Group LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $2,682,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the company’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 value of $731,172.00. Following the transaction, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction 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 sale, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $222.45, for a total value of $5,561,250.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,898 shares of company stock worth $18,558,167. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Stock Up 0.3 %

LHX traded up $0.77 during midday trading on Tuesday, reaching $222.73. 96,900 shares of the company were exchanged, compared to its average volume of 1,007,400. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company’s fifty day moving average price is $219.69 and its 200 day moving average price is $212.84. The company has a market cap of $42.25 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $228.13.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. The company 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%. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.86 earnings per share. As a group, analysts expect that L3Harris Technologies, Inc. will post 12.93 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.