Peterson Wealth Services Has $46,000 Stock Position in L3Harris Technologies Inc $LHX

Peterson Wealth Services lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 89.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183 shares of the company’s stock after selling 1,517 shares during the period. Peterson Wealth Services’ holdings in L3Harris Technologies were worth $46,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Gold Investment Management Ltd. increased its stake in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares during the period. BankPlus Trust Department grew its stake in L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after purchasing an additional 379 shares during the period. Janney Montgomery Scott LLC grew its stake in L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after purchasing an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. grew its stake in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after purchasing an additional 216 shares during the period. Finally, US Bancorp DE grew its stake in L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after purchasing an additional 5,526 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LHX. Barclays raised their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada raised their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Morgan Stanley raised their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Susquehanna lifted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.63.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. Corporate insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $293.22 on Friday. The firm has a market cap of $54.86 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business’s fifty day moving average is $285.35 and its 200 day moving average is $258.41. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the company earned $3.24 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

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.