Savant Capital LLC Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Savant Capital LLC boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 75.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,500 shares of the company’s stock after acquiring an additional 2,367 shares during the quarter. Savant Capital LLC’s holdings in L3Harris Technologies were worth $1,158,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KB Financial Partners LLC boosted its holdings in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $35,000. Blue Trust Inc. grew its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. increased its stake in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Barclays upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James lifted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Four investment 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 currently has an average rating of “Moderate Buy” and an average target price of $231.33.

L3Harris Technologies Stock Up 0.4 %

LHX opened at $212.24 on Friday. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The firm has a 50 day moving average price of $210.22 and a 200 day moving average price of $202.31. 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 market cap of $40.26 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data 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. The company 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%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.86 earnings per share. Sell-side analysts expect that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

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.