L3Harris Technologies, Inc. (NYSE:LHX) Stock Position Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,731 shares of the company’s stock after purchasing an additional 637 shares during the period. Apollon Wealth Management LLC’s holdings in L3Harris Technologies were worth $3,524,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Mondrian Investment Partners LTD increased its stake in L3Harris Technologies by 32,907.5% in the 3rd quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock valued at $66,208,000 after buying an additional 379,094 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after acquiring an additional 296,654 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after purchasing an additional 266,468 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $35,207,000. Finally, Invesco Ltd. raised its stake in shares of L3Harris Technologies by 15.3% during the 3rd quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after purchasing an additional 193,690 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Edward J. Zoiss sold 3,707 shares of the company’s 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 sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the sale, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LHX shares. Barclays increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Citigroup increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Finally, Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.33.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded up $2.51 on Monday, hitting $214.75. 789,099 shares of the company were exchanged, compared to its average volume of 1,118,148. 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 company’s 50 day moving average price is $210.24 and its two-hundred day moving average price is $203.13. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The firm has a market capitalization of $40.73 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 1.88 and a beta of 0.63.

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

L3Harris Technologies Dividend Announcement

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