Stokes Capital Advisors LLC Raises Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Stokes Capital Advisors LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,120 shares of the company’s stock after buying an additional 373 shares during the quarter. Stokes Capital Advisors LLC’s holdings in L3Harris Technologies were worth $5,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $28,000. KB Financial Partners LLC grew its holdings 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 purchasing an additional 82 shares during the period. Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the period. Washington Trust Advisors Inc. grew its holdings in L3Harris Technologies by 80.6% in 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 period. Finally, Bruce G. Allen Investments LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $46,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock 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 objective for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.80.

Insider Activity at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following 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 have sold 82,898 shares of company stock valued at $18,558,167 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.9 %

Shares of NYSE LHX traded up $1.91 during trading on Friday, reaching $225.09. 134,409 shares of the stock were exchanged, compared to its average volume of 991,025. The business’s 50-day moving average price is $218.89 and its 200 day moving average price is $212.48. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $228.13. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $42.70 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 1.87 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.86 earnings per share. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 annualized dividend and a yield of 2.06%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.