Flagship Wealth Advisors LLC Acquires Shares of 355 L3Harris Technologies, Inc. (NYSE:LHX)

Flagship Wealth Advisors LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 355 shares of the company’s stock, valued at approximately $75,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies during the fourth quarter valued at $398,507,000. Massachusetts Financial Services Co. MA increased its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after acquiring an additional 85,882 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock valued at $254,461,000 after acquiring an additional 32,979 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,098 shares of company stock worth $1,760,588. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Trading Up 0.9 %

Shares of NYSE:LHX opened at $212.93 on Tuesday. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock’s 50-day simple moving average is $209.44 and its two-hundred day simple moving average is $226.84. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. L3Harris Technologies’s payout ratio is 60.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. UBS Group lifted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. 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 report on Friday, March 7th. Finally, Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

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.