Adell Harriman & Carpenter Inc. Acquires 331 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Adell Harriman & Carpenter Inc. boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,776 shares of the company’s stock after purchasing an additional 331 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in L3Harris Technologies were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. KB Financial Partners LLC grew its position in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Blue Trust Inc. grew its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth $46,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded down $2.10 during midday trading on Tuesday, hitting $214.96. 104,121 shares of the company were exchanged, compared to its average volume of 1,116,562. The business has a fifty day simple moving average of $210.26 and a two-hundred day simple moving average of $201.92. 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 firm has a market capitalization of $40.87 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.86 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.76 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a report on Thursday, January 11th. 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 report on Monday. Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.88.

Insider Activity

In other news, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director William H. Swanson bought 1,250 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 over the last quarter. 0.87% of the stock is currently owned by corporate insiders.

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.