Raymond James & Associates Has $201.19 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Raymond James & Associates raised its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 944,127 shares of the company’s stock after acquiring an additional 30,479 shares during the period. Raymond James & Associates owned about 0.50% of L3Harris Technologies worth $201,193,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LHX. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth about $28,000. KB Financial Partners LLC grew its stake in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Washington Trust Advisors Inc. raised its position in L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares during the last quarter. Finally, New England Capital Financial Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $35,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 3.5 %

Shares of LHX stock traded up $7.18 during trading hours on Friday, hitting $214.54. 2,133,539 shares of the company were exchanged, compared to its average volume of 1,010,338. The company has a market capitalization of $40.79 billion, a PE ratio of 34.83, a PEG ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The business has a 50 day moving average of $210.16 and a two-hundred day moving average of $201.28. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.86 EPS. Analysts anticipate that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.16%. L3Harris Technologies’s payout ratio is currently 75.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LHX. Royal Bank of Canada upped their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a report on Thursday, January 11th. Raymond James lifted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Citigroup increased their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.60.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.82% 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.