Savvy Advisors Inc. Invests $352,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Savvy Advisors Inc. bought a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,672 shares of the company's stock, valued at approximately $352,000.

Other institutional investors have also added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in L3Harris Technologies in the 3rd quarter worth approximately $119,000. World Investment Advisors LLC lifted its stake in shares of L3Harris Technologies by 220.3% during the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company's stock worth $7,750,000 after buying an additional 22,407 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of L3Harris Technologies during the third quarter worth $1,704,000. Synovus Financial Corp grew its holdings in shares of L3Harris Technologies by 17.5% during the third quarter. Synovus Financial Corp now owns 6,734 shares of the company's stock valued at $1,602,000 after buying an additional 1,003 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in shares of L3Harris Technologies by 0.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company's stock valued at $9,890,000 after acquiring an additional 194 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

NYSE LHX traded down $0.87 on Friday, hitting $218.01. The company had a trading volume of 1,411,617 shares, compared to its average volume of 1,001,265. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The company has a market capitalization of $40.92 billion, a PE ratio of 27.70, a PEG ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company's fifty day moving average price is $208.64 and its 200-day moving average price is $223.37.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.20%. L3Harris Technologies's dividend payout ratio is currently 60.99%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Sanford C. Bernstein raised L3Harris Technologies from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Jefferies Financial Group decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $256.35.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, 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. 0.72% of the stock is currently owned by insiders.

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.