Strong Tower Advisory Services Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Strong Tower Advisory Services lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,363 shares of the company’s stock after purchasing an additional 49 shares during the quarter. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cowa LLC purchased a new position in shares of L3Harris Technologies in the first quarter worth $26,000. Mascoma Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of L3Harris Technologies in the first quarter worth $27,000. KB Financial Partners LLC raised its stake in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. purchased a new position in shares of L3Harris Technologies in the second quarter worth $29,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $212.97 on Friday. The stock has a 50 day moving average of $210.91 and a 200 day moving average of $196.10. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The firm has a market cap of $40.49 billion, a PE ratio of 33.07, a PEG ratio of 1.97 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.27 earnings per share. On average, research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last ninety days. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. UBS Group upped their price target on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Truist Financial upped their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $229.00.

L3Harris Technologies 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.