L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by Iams Wealth Management LLC

Iams Wealth Management LLC increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,312 shares of the company’s stock after buying an additional 64 shares during the period. L3Harris Technologies comprises 1.1% of Iams Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding. Iams Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,772,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $28,000. KB Financial Partners LLC increased its position in shares of L3Harris Technologies by 96.5% in the 3rd 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 position in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the last quarter. Washington Trust Advisors Inc. increased its position in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $46,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock traded up $0.77 during mid-day trading on Tuesday, hitting $222.73. The stock had a trading volume of 96,900 shares, compared to its average volume of 1,007,400. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. The firm has a market cap of $42.25 billion, a PE ratio of 36.03, a PEG ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The company’s 50-day simple moving average is $219.69 and its 200-day simple moving average is $212.84.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the business earned $2.86 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the firm’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 owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders sold 82,898 shares of company stock worth $18,558,167 in the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective on the stock in a research report on Monday, April 22nd. Barclays increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased 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. Four research analysts have rated the stock with a hold rating and eleven 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 $231.80.

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.