180 Wealth Advisors LLC Takes $205,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

180 Wealth Advisors LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the second quarter, according to its most recent filing with the SEC. The firm bought 891 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors also recently bought and sold shares of LHX. Cross Staff Investments Inc raised its holdings in shares of L3Harris Technologies by 12.4% in the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after buying an additional 158 shares during the last quarter. Boston Partners raised its stake in L3Harris Technologies by 107.2% in the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after acquiring an additional 420,943 shares during the last quarter. Victory Capital Management Inc. lifted its position in L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after acquiring an additional 30,358 shares during the period. Stifel Financial Corp grew its stake in L3Harris Technologies by 3.9% during the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after purchasing an additional 6,675 shares during the last quarter. Finally, Scout Investments Inc. increased its holdings in shares of L3Harris Technologies by 59.4% in the fourth quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after purchasing an additional 13,423 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on LHX. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Alembic Global Advisors raised shares of 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. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $250.00 to $240.00 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $245.00 to $257.00 in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.43.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at approximately $27,086,585.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,312 shares of company stock worth $24,712,822. 0.82% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

NYSE:LHX traded up $0.43 during trading hours on Thursday, reaching $226.49. 693,495 shares of the company were exchanged, compared to its average volume of 992,454. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The firm has a market cap of $42.96 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The stock’s 50-day moving average is $227.43 and its 200-day moving average is $218.06.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.04 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

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.