Pathway Financial Advisers LLC Acquires New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Pathway Financial Advisers LLC acquired a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,420 shares of the company’s stock, valued at approximately $729,000.

Several other hedge funds have also recently added to or reduced their stakes in LHX. Assenagon Asset Management S.A. acquired a new position in L3Harris Technologies in the 4th quarter valued at $1,219,000. Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Global Retirement Partners LLC grew its holdings in L3Harris Technologies by 45.2% in the 4th quarter. Global Retirement Partners LLC now owns 572 shares of the company’s stock valued at $117,000 after buying an additional 178 shares in the last quarter. State of Michigan Retirement System grew its holdings in L3Harris Technologies by 1.4% in the 4th quarter. State of Michigan Retirement System now owns 57,130 shares of the company’s stock valued at $12,033,000 after buying an additional 800 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new stake in L3Harris Technologies in the 4th quarter valued at $204,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.4 %

L3Harris Technologies stock traded up $0.97 during midday trading on Friday, reaching $230.19. 1,080,734 shares of the stock traded hands, compared to its average volume of 1,004,621. The company has a 50-day simple moving average of $226.57 and a two-hundred day simple moving average of $216.75. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The firm has a market cap of $43.66 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

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

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the senior vice president now directly 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 109,312 shares of company stock valued at $24,712,822 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LHX. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of L3Harris Technologies in a report on Monday, July 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a report on Monday, April 22nd. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $238.50.

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.