Wedmont Private Capital Purchases 99 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Wedmont Private Capital lifted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,109 shares of the company’s stock after purchasing an additional 99 shares during the period. Wedmont Private Capital’s holdings in L3Harris Technologies were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at approximately $27,000. Roxbury Financial LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX opened at $246.79 on Thursday. The business’s 50 day moving average price is $225.81 and its 200-day moving average price is $218.31. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a market cap of $46.14 billion, a P/E ratio of 31.36, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is currently 56.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LHX shares. Truist Financial reduced their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and increased their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Citigroup boosted their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $258.75.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

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.