180 Wealth Advisors LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

180 Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 891 shares of the company’s stock, valued at approximately $205,000.

Other large investors have also recently added to or reduced their stakes in the company. Bfsg LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc lifted its position in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Sachetta LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $49,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LHX. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $250.00 to $240.00 in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.43.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction on Friday, June 14th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock worth $24,712,822 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $0.43 on Thursday, reaching $226.49. 693,495 shares of the company’s stock were exchanged, compared to its average volume of 992,454. The business’s 50-day moving average is $227.43 and its two-hundred day moving average is $218.06. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The firm has a market capitalization of $42.96 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 1.90 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.04 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 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.