GM Advisory Group LLC Acquires 74 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

GM Advisory Group LLC grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,298 shares of the company’s stock after purchasing an additional 74 shares during the period. GM Advisory Group LLC’s holdings in L3Harris Technologies were worth $273,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $30,000. Union Bancaire Privee UBP SA bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $33,000. New Millennium Group LLC boosted its holdings in L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.3 %

LHX stock opened at $213.07 on Thursday. The stock has a 50-day simple moving average of $209.74 and a two-hundred day simple moving average of $226.58. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market capitalization of $40.00 billion, a PE ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Barclays dropped their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,098 shares of company stock valued at $1,760,588. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies 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.