Crux Wealth Advisors Acquires New Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Crux Wealth Advisors bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,930 shares of the company’s stock, valued at approximately $406,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Meeder Asset Management Inc. lifted its position in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $33,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 3.8 %

Shares of NYSE LHX opened at $221.67 on Friday. The business has a 50-day moving average price of $207.62 and a 200 day moving average price of $223.70. The stock has a market cap of $41.61 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current 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 paid a $1.20 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies’s payout ratio is currently 60.99%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the company from $198.00 to $263.00 in a report on Friday. Truist Financial lowered their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a report on Tuesday. UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.94.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, 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.

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.