Advisory Alpha LLC Grows Stake in L3Harris Technologies Inc $LHX

Advisory Alpha LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 13.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,160 shares of the company’s stock after acquiring an additional 134 shares during the period. Advisory Alpha LLC’s holdings in L3Harris Technologies were worth $291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kiker Wealth Management LLC grew its position in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Clearstead Trust LLC purchased a new position in L3Harris Technologies in the first quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies in the first quarter worth about $26,000. Harbor Asset Planning Inc. purchased a new position in L3Harris Technologies in the second quarter worth about $32,000. Finally, Independence Bank of Kentucky grew its position in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LHX shares. UBS Group lifted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Barclays boosted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $287.63.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Down 0.1%

Shares of NYSE:LHX opened at $286.98 on Thursday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The stock has a market cap of $53.69 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. The business’s 50 day moving average is $286.25 and its 200 day moving average is $260.62. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s payout ratio is 53.63%.

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.