Clifford Swan Investment Counsel LLC Invests $363,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Clifford Swan Investment Counsel LLC bought a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,722 shares of the company’s stock, valued at approximately $363,000.

A number of other large investors have also made changes to their positions in the stock. KB Financial Partners LLC lifted its holdings in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Blue Trust Inc. grew its position in L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares during the period. Washington Trust Advisors Inc. raised its stake in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at $35,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.2 %

Shares of NYSE LHX traded up $2.51 during midday trading on Monday, reaching $214.75. 791,643 shares of the stock were exchanged, compared to its average volume of 1,118,148. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $218.34. The business has a 50-day simple moving average of $210.18 and a two-hundred day simple moving average of $202.87. The company has a market capitalization of $40.73 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $2.86 earnings per share. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. L3Harris Technologies’s payout ratio is presently 75.32%.

Insider Activity at L3Harris Technologies

In related news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LHX. Citigroup lifted their price target 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. Royal Bank of Canada raised their price objective 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. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $231.33.

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.