Econ Financial Services Corp Makes New $496,000 Investment in L3Harris Technologies, Inc. (NYSE:LHX)

Econ Financial Services Corp acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,326 shares of the company’s stock, valued at approximately $496,000.

Other institutional investors have also recently made changes to their positions in the company. Cross Staff Investments Inc increased its holdings in L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after buying an additional 158 shares during the period. Boston Partners boosted its holdings in shares of L3Harris Technologies by 107.2% during the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after buying an additional 420,943 shares in the last quarter. Victory Capital Management Inc. boosted its stake in L3Harris Technologies by 40.0% during the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after acquiring an additional 30,358 shares in the last quarter. Stifel Financial Corp boosted its position in shares of L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock worth $37,057,000 after purchasing an additional 6,675 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in L3Harris Technologies by 59.4% in the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock worth $7,588,000 after acquiring an additional 13,423 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LHX. Barclays boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of L3Harris Technologies in a report on Monday. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,312 shares of company stock worth $24,712,822. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock traded down $4.63 during midday trading on Monday, reaching $224.78. The stock had a trading volume of 1,356,833 shares, compared to its average volume of 998,424. The firm has a fifty day simple moving average of $226.23 and a two-hundred day simple moving average of $216.29. L3Harris Technologies, Inc. has a 52-week low of $160.25 and a 52-week high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a market cap of $42.64 billion, a PE ratio of 36.49, a P/E/G ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. L3Harris Technologies’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.97 EPS. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 12.99 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

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.