Simmons Bank Buys New Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Simmons Bank bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) in the fourth quarter, Holdings Channel reports. The fund bought 2,516 shares of the company’s stock, valued at approximately $530,000.

Several other large investors have also recently bought and sold shares of LHX. Charles Schwab Investment Management Inc. raised its holdings in L3Harris Technologies by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,115 shares of the company’s stock worth $250,241,000 after purchasing an additional 58,553 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 4.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,731 shares of the company’s stock valued at $3,524,000 after buying an additional 637 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of L3Harris Technologies by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 14,720 shares of the company’s stock worth $3,100,000 after acquiring an additional 276 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of L3Harris Technologies by 79.2% in the 4th quarter. Private Advisor Group LLC now owns 12,382 shares of the company’s stock worth $2,608,000 after acquiring an additional 5,473 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $824,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LHX shares. Citigroup lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, Raymond James boosted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded up $0.11 on Wednesday, reaching $216.02. The stock had a trading volume of 408,293 shares, compared to its average volume of 1,107,697. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The business’s 50-day moving average price is $210.32 and its two-hundred day moving average price is $203.41. The stock has a market cap of $40.97 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the previous year, the firm earned $2.86 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 12.91 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insiders Place Their Bets

In other news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Swanson bought 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 in the last ninety days. Insiders own 0.87% of the company’s stock.

L3Harris Technologies Company 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.