Westwood Holdings Group Inc. Has $4.34 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Westwood Holdings Group Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,369 shares of the company’s stock after purchasing an additional 1,051 shares during the period. Westwood Holdings Group Inc.’s holdings in L3Harris Technologies were worth $4,341,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Oak Harbor Wealth Partners LLC grew its stake in shares of L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after buying an additional 49 shares in the last quarter. Blossom Wealth Management boosted its position in 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 during the period. JFS Wealth Advisors LLC boosted its position in L3Harris Technologies by 12.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares during the period. Parkside Financial Bank & Trust boosted its position in 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 during the period. Finally, Lindbrook Capital LLC boosted its position in L3Harris Technologies by 3.6% during the first quarter. Lindbrook Capital LLC now owns 1,657 shares of the company’s stock worth $353,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of L3Harris Technologies in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price objective for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $238.50.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $0.97 during midday trading on Friday, reaching $230.19. The company’s stock had a trading volume of 1,080,734 shares, compared to its average volume of 1,004,621. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The company has a market capitalization of $43.66 billion, a P/E ratio of 37.37, a P/E/G ratio of 1.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The business’s fifty day simple moving average is $226.57 and its 200-day simple moving average is $216.83.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company posted $2.97 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 109,312 shares of company stock worth $24,712,822 over the last 90 days. Insiders own 0.82% of the company’s stock.

L3Harris Technologies 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.