Wetzel Investment Advisors Inc. Acquires New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Wetzel Investment Advisors Inc. acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 711 shares of the company’s stock, valued at approximately $150,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. State Street Corp grew its position in L3Harris Technologies by 4.1% in the 1st quarter. State Street Corp now owns 8,691,190 shares of the company’s stock valued at $1,705,558,000 after acquiring an additional 339,806 shares in the last quarter. Geode Capital Management LLC grew its position in L3Harris Technologies by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 3,556,352 shares of the company’s stock valued at $696,145,000 after acquiring an additional 34,726 shares in the last quarter. Morgan Stanley grew its position in L3Harris Technologies by 1.9% in the 3rd quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock valued at $436,684,000 after acquiring an additional 47,691 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of L3Harris Technologies by 4.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock worth $430,049,000 after buying an additional 82,423 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $342,413,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Citigroup boosted 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. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.00.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $3.37 during trading hours on Friday, hitting $205.45. The stock had a trading volume of 898,618 shares, compared to its average volume of 996,133. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The stock has a market capitalization of $39.06 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.88 and a beta of 0.65. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34. The stock’s fifty day moving average is $210.30 and its two-hundred day moving average is $199.84.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.04. The company had revenue of $5.34 billion for 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%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.27 earnings per share. As a group, analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies’s payout ratio is currently 72.05%.

Insider Activity at L3Harris Technologies

In related 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 sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 have sold a total of 48,362 shares of company stock valued at $10,261,360 over the last quarter. Insiders own 0.82% of the company’s stock.

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.