Independent Advisor Alliance Has $4.95 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Independent Advisor Alliance grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.1% during the 4th quarter, according to its most recent 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 period. Independent Advisor Alliance’s holdings in L3Harris Technologies were worth $4,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter valued at about $27,000. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $30,000. Archer Investment Corp grew its position in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Finally, Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter valued at approximately $36,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’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 sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $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 three months. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Trading Down 2.4 %

LHX opened at $212.58 on Wednesday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company 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 company has a fifty day moving average price of $209.17 and a two-hundred day moving average price of $227.41.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s payout ratio is 60.99%.

L3Harris Technologies Company 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.