Independent Advisor Alliance Buys 488 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Independent Advisor Alliance lifted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,552 shares of the company’s stock after purchasing an additional 488 shares during the quarter. Independent Advisor Alliance’s holdings in L3Harris Technologies were worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $33,000. Finally, Kennebec Savings Bank bought a new position in L3Harris Technologies during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,862 shares of company stock worth $2,155,054 over the last quarter. 0.82% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 2.4 %

Shares of NYSE LHX opened at $212.58 on Wednesday. The firm has a market cap of $40.03 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm’s 50 day moving average price is $209.17 and its 200 day moving average price is $227.41. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is 60.99%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LHX shares. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $261.40.

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.