Fifth Third Wealth Advisors LLC Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Fifth Third Wealth Advisors LLC bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,243 shares of the company’s stock, valued at approximately $265,000.

Several other large investors also recently modified their holdings of LHX. Transcendent Capital Group LLC acquired a new position in L3Harris Technologies in the fourth quarter worth about $28,000. KB Financial Partners LLC lifted its holdings in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $46,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,898 shares of company stock valued at $18,558,167. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 0.6 %

Shares of NYSE:LHX traded up $1.40 during trading on Friday, reaching $224.58. 3,428,186 shares of the company traded hands, compared to its average volume of 1,011,671. The firm has a fifty day simple moving average of $218.89 and a 200 day simple moving average of $212.48. The firm has a market cap of $42.60 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 1.87 and a beta of 0.71. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $228.13. 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 issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the business posted $2.86 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts anticipate that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s payout ratio is presently 75.32%.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.80.

About L3Harris Technologies

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.