Burling Wealth Partners LLC Takes $1.59 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Burling Wealth Partners LLC acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,576 shares of the company's stock, valued at approximately $1,593,000.

A number of other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. UBS Group upped their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Susquehanna reduced their price objective on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Barclays cut their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $257.25.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $0.10 during midday trading on Friday, reaching $216.37. 1,637,041 shares of the company traded hands, compared to its average volume of 1,013,547. The firm has a market capitalization of $40.62 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a fifty day moving average price of $210.58 and a 200 day moving average price of $222.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.55 by ($0.14). The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 2.22%. L3Harris Technologies's payout ratio is currently 60.99%.

Insider Activity

In other news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company's stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

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.