L3Harris Technologies, Inc. (NYSE:LHX) Shares Bought by Evermay Wealth Management LLC

Evermay Wealth Management LLC lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 38.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 971 shares of the company’s stock after buying an additional 268 shares during the quarter. Evermay Wealth Management LLC’s holdings in L3Harris Technologies were worth $207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bfsg LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at about $25,000. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after buying an additional 79 shares in the last quarter. Finally, Sachetta LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 2.5 %

Shares of L3Harris Technologies stock traded up $5.97 during trading hours on Thursday, reaching $243.12. 1,631,777 shares of the company were exchanged, compared to its average volume of 986,273. The firm has a market cap of $46.12 billion, a PE ratio of 39.47, a PEG ratio of 2.00 and a beta of 0.72. 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 1 year low of $160.25 and a 1 year high of $245.60. The stock’s fifty day moving average is $226.09 and its 200 day moving average is $215.80.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.86 EPS. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.91%. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LHX. Barclays boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the sale, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,086,585.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 109,312 shares of company stock valued at $24,712,822 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.