GHP Investment Advisors Inc. Raises Holdings in L3Harris Technologies Inc $LHX

GHP Investment Advisors Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,025 shares of the company’s stock after purchasing an additional 3,747 shares during the period. GHP Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $12,044,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LHX. Brighton Jones LLC increased its stake in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC increased its stake in shares of L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of L3Harris Technologies by 14.2% during the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock worth $4,285,000 after purchasing an additional 2,130 shares in the last quarter. Nebula Research & Development LLC purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $856,000. Finally, CIBC Asset Management Inc increased its stake in shares of L3Harris Technologies by 116.2% during the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after purchasing an additional 33,321 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Vertical Research reissued a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Morgan Stanley raised their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.55.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the transaction, the vice president owned 4,131 shares in the company, valued at approximately $1,529,791.92. This trade represents a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 19,025 shares of company stock worth $6,824,370. 0.68% of the stock is owned by insiders.

L3Harris Technologies Stock Down 1.0%

Shares of NYSE LHX opened at $349.76 on Friday. L3Harris Technologies Inc has a 1 year low of $208.11 and a 1 year high of $379.23. The firm’s 50 day moving average price is $355.54 and its 200 day moving average price is $321.58. The firm has a market cap of $65.33 billion, a P/E ratio of 41.00, a price-to-earnings-growth ratio of 1.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the business earned $3.47 earnings per share. L3Harris Technologies’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date was Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.