Peterson Wealth Services Purchases 79 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Peterson Wealth Services raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,432 shares of the company’s stock after purchasing an additional 79 shares during the quarter. Peterson Wealth Services’ holdings in L3Harris Technologies were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Strong Tower Advisory Services increased its holdings 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 worth $1,130,000 after purchasing an additional 49 shares during the last quarter. Oak Harbor Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 1.7% during the first quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after purchasing an additional 49 shares during the last quarter. Blossom Wealth Management raised its position in L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after buying an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake 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 valued at $106,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In related 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 directly owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $222.45, for a total transaction of $5,561,250.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $26,766,518.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold 82,898 shares of company stock worth $18,558,167 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

LHX stock traded down $0.51 during trading on Friday, reaching $224.07. The company had a trading volume of 483,225 shares, compared to its average volume of 665,763. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $228.13. The company has a market cap of $42.50 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The firm has a 50-day simple moving average of $221.16 and a 200-day simple moving average of $213.31.

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, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for 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 period in the previous year, the company earned $2.86 earnings per share. As a group, sell-side analysts expect that L3Harris Technologies, Inc. will post 12.96 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Barclays upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada increased their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Four 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 stock presently has an average rating of “Moderate Buy” and an average target price of $231.80.

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.