Physician Wealth Advisors Inc. Takes Position in L3Harris Technologies, Inc. (NYSE:LHX)

Physician Wealth Advisors Inc. bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 391 shares of the company’s stock, valued at approximately $82,000.

Several other large investors have also added to or reduced their stakes in LHX. Vanguard Group Inc. boosted its holdings in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the period. Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at $398,507,000. Charles Schwab Investment Management Inc. boosted its stake in L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after acquiring an additional 32,979 shares in the last quarter. Finally, Boston Partners increased its stake in L3Harris Technologies by 20.2% in the fourth quarter. Boston Partners now owns 1,178,741 shares of the company’s stock valued at $247,893,000 after purchasing an additional 198,243 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 2.5 %

LHX opened at $207.46 on Monday. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a market capitalization of $38.94 billion, a P/E ratio of 26.36, a PEG ratio of 2.42 and a beta of 0.74. The company’s 50-day moving average is $209.34 and its 200 day moving average is $225.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Research analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.31%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

Wall Street Analyst Weigh In

LHX has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Activity

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.