Montag A & Associates Inc. Increases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Montag A & Associates Inc. raised its position in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,363 shares of the company’s stock after acquiring an additional 850 shares during the quarter. Montag A & Associates Inc.’s holdings in L3Harris Technologies were worth $919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. KB Financial Partners LLC raised its position in L3Harris Technologies by 96.5% during the 3rd 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 last quarter. New England Capital Financial Advisors LLC purchased a new stake in L3Harris Technologies in the third quarter worth $35,000. Blue Trust Inc. boosted 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 acquiring an additional 109 shares in the last quarter. Washington Trust Advisors Inc. increased its position in L3Harris Technologies by 80.6% during the 4th 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 shares of L3Harris Technologies in the 4th quarter worth about $46,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on LHX shares. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.80.

Read Our Latest Stock Report on LHX

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. Company insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded up $0.10 during trading on Friday, reaching $219.59. 623,817 shares of the company traded hands, compared to its average volume of 1,029,056. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $219.91. The stock has a market capitalization of $41.65 billion, a PE ratio of 35.65, a P/E/G ratio of 1.90 and a beta of 0.63. The firm has a 50 day simple moving average of $210.53 and a 200-day simple moving average of $203.61.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the company posted $2.86 earnings per share. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts anticipate 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 paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

About L3Harris Technologies

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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