Transcendent Capital Group LLC Takes $28,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Transcendent Capital Group LLC purchased a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 133 shares of the company’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KB Financial Partners LLC grew its position in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Blue Trust Inc. grew its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. increased its position in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $46,000. Finally, Sachetta LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at about $49,000. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 3,363 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $212.86, for a total value of $715,848.18. Following the completion of the sale, the senior vice president now directly owns 55,254 shares in the company, valued at $11,761,366.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Scott T. Mikuen sold 3,363 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the sale, the senior vice president now owns 55,254 shares of the company’s stock, valued at $11,761,366.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders sold 119,553 shares of company stock valued at $26,304,731 in the last quarter. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LHX. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $231.80.

L3Harris Technologies Trading Down 0.8 %

Shares of NYSE:LHX traded down $1.73 during midday trading on Friday, hitting $217.47. The company had a trading volume of 434,586 shares, compared to its average volume of 691,097. The firm has a fifty day simple moving average of $215.71 and a 200 day simple moving average of $210.90. The stock has a market cap of $41.25 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 1.83 and a beta of 0.71. 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, Inc. has a 12 month low of $160.25 and a 12 month high of $226.99.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.86 EPS. On average, analysts predict that L3Harris Technologies, Inc. will post 12.89 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.13%. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.