Voya Financial Advisors Inc. Purchases 63 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Voya Financial Advisors Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 3,214 shares of the company’s stock after purchasing an additional 63 shares during the period. Voya Financial Advisors Inc.’s holdings in L3Harris Technologies were worth $671,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on LHX shares. Bank of America cut their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.25.

L3Harris Technologies Price Performance

LHX stock opened at $216.37 on Friday. The stock has a market cap of $40.62 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The stock has a 50-day moving average price of $210.58 and a two-hundred day moving average price of $222.24. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. 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 announced its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.14). L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by 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.