GM Advisory Group LLC Has $273,000 Stake in L3Harris Technologies, Inc. (NYSE:LHX)

GM Advisory Group LLC boosted its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,298 shares of the company’s stock after purchasing an additional 74 shares during the period. GM Advisory Group LLC’s holdings in L3Harris Technologies were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC increased its stake in shares of L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares during the last quarter. Avestar Capital LLC grew its position in L3Harris Technologies by 4.2% in the third quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock valued at $299,000 after acquiring an additional 51 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after acquiring an additional 51 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after acquiring an additional 53 shares during the last quarter. Finally, Klingman & Associates LLC boosted its stake in shares of L3Harris Technologies by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock valued at $406,000 after purchasing an additional 53 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,098 shares of company stock worth $1,760,588 in the last quarter. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

LHX stock opened at $213.07 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $40.00 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.74. The company’s fifty day simple moving average is $209.74 and its 200 day simple moving average is $226.58. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.25%. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. Truist Financial dropped their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Citigroup reduced their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Morgan Stanley lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.