L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,832 shares of the company’s stock after purchasing an additional 108 shares during the period. Summit Trail Advisors LLC’s holdings in L3Harris Technologies were worth $807,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mondrian Investment Partners LTD boosted its position in L3Harris Technologies by 32,907.5% in the 3rd 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 in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock valued at $179,709,000 after buying an additional 296,654 shares during the period. Diamond Hill Capital Management Inc. increased its holdings 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 valued at $252,481,000 after buying an additional 266,468 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in L3Harris Technologies during the third quarter worth approximately $35,207,000. Finally, Invesco Ltd. boosted its position in L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after purchasing an additional 193,690 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.6 %

Shares of NYSE LHX traded up $1.37 during midday trading on Tuesday, reaching $216.12. 83,504 shares of the stock were exchanged, compared to its average volume of 1,106,247. The stock has a market capitalization of $40.99 billion, a P/E ratio of 34.86, a PEG ratio of 1.88 and a beta of 0.63. 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 $210.24 and a 200 day simple moving average of $203.13. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the firm earned $2.86 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Activity

In related news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director William H. Swanson bought 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. Royal Bank of Canada upped their target price on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Citigroup lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Barclays lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

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.