Transcend Capital Advisors LLC Buys 98 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Transcend Capital Advisors LLC grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,462 shares of the company’s stock after acquiring an additional 98 shares during the quarter. Transcend Capital Advisors LLC’s holdings in L3Harris Technologies were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mondrian Investment Partners LTD lifted its stake in L3Harris Technologies by 32,907.5% in the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in L3Harris Technologies by 53.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after acquiring an additional 296,654 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in L3Harris Technologies by 22.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of L3Harris Technologies during the third quarter worth $35,207,000. Finally, Invesco Ltd. boosted its stake in shares of L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after purchasing an additional 193,690 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $217.07 on Tuesday. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34. The company has a market capitalization of $41.27 billion, a PE ratio of 35.24, a P/E/G ratio of 1.99 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company has a 50-day simple moving average of $210.26 and a two-hundred day simple moving average of $201.92.

L3Harris Technologies (NYSE:LHX) last posted 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. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.86 EPS. Research analysts expect that L3Harris Technologies, Inc. will post 12.76 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.14%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LHX shares. UBS Group lifted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research note on Thursday, January 11th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada increased their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.93.

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.