L3Harris Technologies, Inc. (NYSE:LHX) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 20.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,306 shares of the company’s stock after purchasing an additional 1,388 shares during the period. Strong Tower Advisory Services’ holdings in L3Harris Technologies were worth $1,976,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Merrion Investment Management Co LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $204,000. Enterprise Bank & Trust Co purchased a new position in shares of L3Harris Technologies during the third quarter worth about $201,000. Wedmont Private Capital increased its position in L3Harris Technologies by 12.4% during the third quarter. Wedmont Private Capital now owns 1,126 shares of the company’s stock worth $272,000 after buying an additional 124 shares during the period. CWM LLC increased its position in L3Harris Technologies by 4.7% during the third quarter. CWM LLC now owns 5,954 shares of the company’s stock worth $1,416,000 after buying an additional 265 shares during the period. Finally, Atwood & Palmer Inc. lifted its stake in L3Harris Technologies by 6.4% in the third quarter. Atwood & Palmer Inc. now owns 60,616 shares of the company’s stock valued at $14,419,000 after buying an additional 3,640 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity

In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,863 shares of company stock valued at $5,171,749 over the last 90 days. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LHX shares. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup upped their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday. Finally, Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.64.

L3Harris Technologies Price Performance

LHX traded up $1.29 during midday trading on Friday, reaching $243.64. 56,695 shares of the company’s stock were exchanged, compared to its average volume of 919,884. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies, Inc. has a 1-year low of $169.55 and a 1-year high of $247.33. The stock has a market capitalization of $46.22 billion, a PE ratio of 38.78, a P/E/G ratio of 2.08 and a beta of 0.73. The business’s 50-day moving average price is $232.80 and its 200 day moving average price is $224.32.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 earnings per share. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 74.24%.

About L3Harris Technologies

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.