FourThought Financial Partners LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

FourThought Financial Partners LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,015 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Strong Tower Advisory Services increased its position in shares of L3Harris Technologies by 0.9% in the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares in the last quarter. Blossom Wealth Management increased its position in shares of L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of L3Harris Technologies by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its position in shares of L3Harris Technologies by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 1,622 shares of the company’s stock worth $282,000 after purchasing an additional 59 shares in the last quarter. Finally, Sky Investment Group LLC increased its stake in shares of L3Harris Technologies by 4.2% in the 3rd quarter. Sky Investment Group LLC now owns 1,495 shares of the company’s stock worth $260,000 after acquiring an additional 60 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LHX. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Barclays boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Alembic Global Advisors raised 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. Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada upped their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $231.33.

L3Harris Technologies Price Performance

LHX stock traded up $1.60 on Monday, reaching $213.84. 282,818 shares of the company’s stock were exchanged, compared to its average volume of 1,112,016. The stock has a fifty day moving average of $210.18 and a 200-day moving average of $202.87. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The firm has a market cap of $40.56 billion, a PE ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

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

L3Harris Technologies Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was 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 directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate 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.