L3Harris Technologies Inc $LHX Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in L3Harris Technologies Inc (NYSE:LHX) by 19.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,239 shares of the company’s stock after acquiring an additional 1,678 shares during the quarter. Axxcess Wealth Management LLC’s holdings in L3Harris Technologies were worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LHX. Salomon & Ludwin LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $34,000. Twin Peaks Wealth Advisors LLC acquired a new stake in L3Harris Technologies in the 2nd quarter valued at approximately $34,000. Copia Wealth Management raised its stake in L3Harris Technologies by 1,842.9% during the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after acquiring an additional 129 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in L3Harris Technologies during the 3rd quarter worth $42,000. Finally, Westside Investment Management Inc. grew its stake in shares of L3Harris Technologies by 100.0% in the third quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock worth $43,000 after purchasing an additional 71 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Citigroup increased their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Trading Up 1.7%

Shares of NYSE:LHX opened at $352.50 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The stock has a market capitalization of $65.84 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 2.50 and a beta of 0.64. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $369.59. The company has a 50 day moving average price of $325.67 and a 200 day moving average price of $298.47.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company earned $3.47 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is presently 56.27%.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.