Econ Financial Services Corp Invests $496,000 in L3Harris Technologies, Inc. (NYSE:LHX)

Econ Financial Services Corp acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,326 shares of the company’s stock, valued at approximately $496,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Oak Harbor Wealth Partners LLC lifted its stake in L3Harris Technologies by 1.7% in the first quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after buying an additional 49 shares during the period. Blossom Wealth Management raised its position in shares of L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the period. JFS Wealth Advisors LLC lifted its position in shares of L3Harris Technologies by 12.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after acquiring an additional 53 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of L3Harris Technologies by 3.6% in the first quarter. Lindbrook Capital LLC now owns 1,657 shares of the company’s stock worth $353,000 after buying an additional 58 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 2.0 %

Shares of LHX stock traded down $4.63 during trading on Monday, reaching $224.78. The company’s stock had a trading volume of 1,356,833 shares, compared to its average volume of 998,424. The company has a market capitalization of $42.64 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 1.91 and a beta of 0.72. The stock’s 50-day moving average price is $226.23 and its 200 day moving average price is $216.29. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 EPS. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.99 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.06%. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LHX. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of L3Harris Technologies in a research report on Monday. Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Five 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 has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insiders Place Their Bets

In related news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,312 shares of company stock worth $24,712,822. 0.82% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.