PFW Advisors LLC Buys Shares of 4,385 L3Harris Technologies, Inc. (NYSE:LHX)

PFW Advisors LLC purchased a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the fourth quarter, HoldingsChannel reports. The fund purchased 4,385 shares of the company’s stock, valued at approximately $922,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $57,000. Finally, Ashton Thomas Securities LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LHX. Wolfe Research raised shares of 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, October 10th. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.31.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 7,889 shares of company stock worth $1,800,572 over the last three months. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX traded up $5.57 during midday trading on Monday, hitting $213.85. The company had a trading volume of 1,150,491 shares, compared to its average volume of 1,280,715. The company has a market capitalization of $40.56 billion, a PE ratio of 33.78, a P/E/G ratio of 1.86 and a beta of 0.75. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $231.09 and a 200-day moving average price of $233.37.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the prior year, the business posted $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.17%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

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.