1,722 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,722 shares of the company’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rollins Financial purchased a new stake in L3Harris Technologies in the 4th quarter valued at $217,000. FourThought Financial Partners LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $214,000. TCG Advisory Services LLC purchased a new position in L3Harris Technologies during the fourth quarter worth about $268,000. First National Trust Co grew its position in L3Harris Technologies by 6.1% in the 4th quarter. First National Trust Co now owns 4,837 shares of the company’s stock worth $1,019,000 after purchasing an additional 276 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at about $1,198,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.2 %

LHX traded up $2.51 during midday trading on Monday, reaching $214.75. The company’s stock had a trading volume of 791,643 shares, compared to its average volume of 1,118,148. The stock’s 50-day moving average is $210.18 and its 200-day moving average is $202.87. The firm has a market capitalization of $40.73 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the company posted $2.86 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LHX shares. Wells Fargo & Company cut their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Raymond James lifted their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Royal Bank of Canada increased their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.33.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. 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.