Avidian Wealth Enterprises LLC Makes New Investment in L3Harris Technologies Inc $LHX

Avidian Wealth Enterprises LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, Holdings Channel reports. The firm bought 1,333 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors have also recently bought and sold shares of LHX. Brighton Jones LLC grew its holdings in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. Continuum Advisory LLC grew its holdings in L3Harris Technologies by 8.9% during the 1st quarter. Continuum Advisory LLC now owns 1,304 shares of the company’s stock worth $273,000 after acquiring an additional 107 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in L3Harris Technologies by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after acquiring an additional 216 shares during the period. GHP Investment Advisors Inc. grew its holdings in L3Harris Technologies by 3.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 31,806 shares of the company’s stock worth $6,657,000 after acquiring an additional 942 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in L3Harris Technologies by 6.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 76,280 shares of the company’s stock worth $15,966,000 after acquiring an additional 4,370 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.1%

Shares of NYSE:LHX opened at $289.00 on Thursday. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $284.46 and its 200 day simple moving average is $257.13. The firm has a market cap of $54.07 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.13 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the business posted $3.24 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 195,138 shares of company stock worth $53,571,774 in the last quarter. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial increased their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Robert W. Baird increased their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Barclays increased their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Susquehanna increased their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $287.63.

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.