Peterson Wealth Services Has $285,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Peterson Wealth Services trimmed its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,353 shares of the company’s stock after selling 111 shares during the quarter. Peterson Wealth Services’ holdings in L3Harris Technologies were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Strong Tower Advisory Services raised its position in shares of L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after acquiring an additional 49 shares during the last quarter. State of Wyoming raised its position in shares of L3Harris Technologies by 27.1% during the fourth quarter. State of Wyoming now owns 230 shares of the company’s stock worth $48,000 after acquiring an additional 49 shares during the last quarter. Blossom Wealth Management raised its position in shares of L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after acquiring an additional 51 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of L3Harris Technologies by 0.9% during the fourth quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock worth $1,234,000 after acquiring an additional 52 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of L3Harris Technologies by 0.9% during the first quarter. Advisory Services Network LLC now owns 6,236 shares of the company’s stock worth $1,224,000 after acquiring an additional 54 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Up 1.2 %

Shares of LHX stock traded up $2.37 during trading hours on Thursday, reaching $203.77. The company’s stock had a trading volume of 141,544 shares, compared to its average volume of 1,115,260. The stock has a market capitalization of $38.74 billion, a P/E ratio of 31.27, a P/E/G ratio of 1.86 and a beta of 0.65. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The firm’s fifty day simple moving average is $210.54 and its 200 day simple moving average is $199.59. 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 data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.27 earnings per share. Equities research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm 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 is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.28%. L3Harris Technologies’s dividend payout ratio is 72.05%.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction 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 approximately $24,654,658.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now 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 SEC, which can be accessed through this link. Also, Director William H. Swanson bought 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. TheStreet upgraded L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Raymond James lifted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

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.