Carson Advisory Inc. Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Carson Advisory Inc. lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,160 shares of the company’s stock after buying an additional 61 shares during the quarter. Carson Advisory Inc.’s holdings in L3Harris Technologies were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $33,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

NYSE LHX opened at $221.67 on Friday. The firm’s fifty day simple moving average is $207.62 and its two-hundred day simple moving average is $223.70. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The firm has a market capitalization of $41.61 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.17%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date was Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LHX shares. Citigroup cut their target price on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Susquehanna cut their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.94.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.