863 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, HoldingsChannel reports. The firm acquired 863 shares of the company’s stock, valued at approximately $180,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. Manning & Napier Group LLC raised its holdings in L3Harris Technologies by 58.6% during the third quarter. Manning & Napier Group LLC now owns 1,034,176 shares of the company’s stock worth $180,071,000 after purchasing an additional 381,997 shares in the last quarter. Mondrian Investment Partners LTD raised its holdings in L3Harris Technologies by 32,907.5% during the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after purchasing an additional 379,094 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in L3Harris Technologies by 53.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after purchasing an additional 296,654 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in L3Harris Technologies during the third quarter worth approximately $35,207,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. UBS Group upped their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Royal Bank of Canada upped their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target on the stock in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.60.

L3Harris Technologies Trading Up 3.5 %

Shares of NYSE:LHX opened at $214.54 on Friday. The stock has a market capitalization of $40.79 billion, a PE ratio of 34.83, a P/E/G ratio of 1.93 and a beta of 0.65. L3Harris Technologies, Inc. has a 1 year low of $160.25 and a 1 year high of $218.34. The firm has a fifty day moving average price of $210.16 and a 200 day moving average price of $201.28. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping 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 net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.86 earnings per share. Analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is 75.32%.

Insiders Place Their Bets

In other news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 in the last quarter. Insiders own 0.82% 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.