Adell Harriman & Carpenter Inc. Has $585,000 Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Adell Harriman & Carpenter Inc. increased its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,776 shares of the company’s stock after buying an additional 331 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in L3Harris Technologies were worth $585,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Intrust Bank NA increased its stake in shares of L3Harris Technologies by 14.5% in the fourth quarter. Intrust Bank NA now owns 4,009 shares of the company’s stock valued at $844,000 after buying an additional 507 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $201,000. Blue Chip Partners LLC raised its stake in shares of L3Harris Technologies by 18.8% in the fourth quarter. Blue Chip Partners LLC now owns 757 shares of the company’s stock worth $160,000 after acquiring an additional 120 shares during the last quarter. Fiduciary Group LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $227,000. Finally, Intellectus Partners LLC lifted its position in shares of L3Harris Technologies by 7.1% during the fourth quarter. Intellectus Partners LLC now owns 7,175 shares of the company’s stock worth $1,511,000 after purchasing an additional 475 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the sale, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.87% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX traded down $2.10 during midday trading on Tuesday, reaching $214.96. The stock had a trading volume of 104,121 shares, compared to its average volume of 1,116,562. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $210.26 and a 200-day simple moving average of $201.92. The firm has a market cap of $40.87 billion, a PE ratio of 34.95, a P/E/G ratio of 1.99 and a beta of 0.65. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates 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 last year, the company earned $2.86 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.76 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Wells Fargo & Company dropped their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. UBS Group lifted their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Citigroup increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $230.88.

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.